OMS Insight
One Mortgage System Ltd (OMS)
Leading the way in mortgage technology and lender integration. Where technology meets mortgages!
As we move into the latter part of 2024, we’re excited to share the successes we have had so far this year. The first half of the year has been marked by significant growth and transformation; we’ve proudly welcomed six new team members, who have already fitted in well and made a remarkable impact on our operations.
In addition to expanding our team, we’ve rolled out several key integrations and enhancements:
As we look back on these achievements, we’re excited to share more details in this newsletter about what July specifically brought and what’s next for OMS in the upcoming weeks.
Event Highlights
This month, we had the pleasure of attending some key industry events:
- British Mortgage Awards: Sponsored and attended; celebrating excellence in the mortgage industry.
- L&G Roadshows: Engaging with industry experts and educating them on what OMS can offer!
- Financial Reporter Roadshows: Networking and hearing insights from specialist lenders.
Exciting Blogs and Press
Our blogs and press releases have been buzzing with new content aimed at providing you with valuable insights:
- Embrace Protection to Strengthen Customer Relations: Highlighting the importance of prioritising protection to build stronger client relationships.
- The Impact of Digital Transformation in the Modern Mortgage World: Partner with PEXA, exploring how digital innovations are reshaping our industry.
- Know Your BDM with Laura Smith: Featuring an interview with Laura Smith, one of our exceptional Business Development Managers.
- OMS Integrates with GoCardless to Simplify Payment Process for Brokers: Detailing how this integration can streamline payment processes.
Engaging Webinars
We hosted several successful webinars this month in collaboration with our integration partners:
- The Source
- iPipeline
- Uinsure
These webinars provided insight into both companies and showcased the benefits of the integrations.
Award-Winning Leadership
We are excited to announce that our Head of Marketing, Jodie, has been named a finalist for the Marketer of the year at The Woman’s Recognition Awards. We are incredibly proud of her achievement - Congratulations, Jodie!
A Market Outlook from Dale Jannels, CEO at OMS
As we move into August, the mortgage market continues to present a complex landscape. The Bank of England has reduced the Base Rate rate to 5%, reflecting that it's ongoing commitment to controlling inflation is having some success. This change has sparked optimism about further potential rate adjustments later in the year.
The financial strain on households is clear, with mortgage arrears reaching a eight-year high, which highlights the pressure that high borrowing costs are placing on homeowners in addition to the high cost of current living. ?Moreover, on a positive note, some lenders are reducing mortgage rates, which is creating more competitive deals, particularly for those with higher deposits. ?I expect more of these in the last third of the year, pre budget obviously...
First-time buyers are seeing increasingly more opportunities, with a rise in the availability of 95% loan to value mortgages, which is largely driven by government initiatives aimed at supporting new entrants into the housing market. ?With an 'eyebrow raising' increase in new house building requested by the new Government, further measures will be needed to entice and assist borrowers to buy, rather than rent.?
While overall market sentiment has improved compared to last year, there are challenges still remaining and the outlook is dependent on continued economic stabilisation. At OMS we are committed to help navigate these challenges, remaining adaptive and innovative to provide the best support to our broker users, no matter what their customers mortgage requirements are.