Acre announced today that it has seen record levels of activity through its intermediary platform, achieving 200% year-on-year growth in mortgage submissions. The significant uptick in broker activity reflects Acre’s track record in boosting advisor productivity, generating additional revenue in today’s volatile mortgage market while supporting advisors, firms and networks in delivering an exceptional service to homeowners.
Acre also is on track to exceed its own target of 10% of the UK’s new mortgages written using the platform this year.
The past year’s fast moving mortgage market has seen brokers turning to technology as a way to stay competitive, improve client outcomes, and support business growth. Acre’s innovative workflows, which saw upgrades to its client portal and case management workflow in the last 12 months, integrates seamlessly into firms’ operations allowing brokers to move quicker and benefit greatly. For example, Cornerstone Finance, one of the largest members of PMS diamond club and a dynamic player in the market, has displayed impressive growth in completion volumes.
Protection was a key area to be rebuilt by Acre in the last 12 months, delivering new measures that close the protection gap that leaves clients vulnerable to unnecessary risk. Features like the enhanced health fact find, risk reports, protection declaration and Consumer Duty Dashboard we introduced alongside enhanced Multi-policy Sourcing, helping brokers to hold informed conversations with clients around their protection needs.
Justus Brown, Acre founder and CEO, said, “Acre is transforming the mortgage industry - combining innovation, technology, and input from a growing community of users allows us to simplify the property-buying journey and make it easier to do business. In another record breaking year, we have seen sole proprietors, national brands and networks with almost 1,000 advisers turn to us and onboarded in record time. We have proven we can be the central cog in the mortgage system, working with other leaders in the ecosystem across insurance, protection, payments and more to improve the journey for broker and client.”
With lenders increasingly willing to lend more and the FCA intentions to lower affordability barriers, Acre continues to evolve its affordability engine to meet market needs and handles over 2.8 million affordability requests per month. By utilising case and individual data held within Acre, brokers can obtain more accurate results to complete mortgage sourcing, making it simpler for brokers to access all the necessary information they need at a glance.
Chris Caulfield-Jones, Director of Risk and Compliance at Cornerstone Finance Group, said, “Acre has been instrumental to our business growth aligning with our own comprehensive inhouse technology platform. Their approach to rethinking the use of data across the mortgage journey, matching our own ethos, serves up greater efficiencies in addition to fuelling more informed client conversations. We continue to be delighted by the improvements from Acre, bringing their technology into our organisation to help future-proof our ongoing commitment to strive for excellence in the mortgage & protection market for both clients and advisers.”
Nicola Ventrella, Operations Director at The Right Mortgage, added, “Acre’s impact on our business has been clear, and the system continues to evolve at pace. The move to Acre has supported the way we deliver mortgage and protection advice by streamlining processes for advisers, improving data visibility, and allowing us to embed good practice across the network. It has helped us strengthen our overall proposition, both in terms of efficiency and the quality of service we offer to clients. It’s evident they understand the needs of firms like ours, and we look forward to continuing to work together as the platform develops further.”
