Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
BMPS 2026: Mortgage Sourcing Set to Change 'Undoubtedly' With AI, Says Mortgage Brain
Mortgage sourcing will "undoubtedly" look different in three years, according to Neil Wyatt, chief commercial officer at Mortgage Brain, speaking at a boardroom discussion at the British Mortgage and Protection Senate (BMPS). Artificial intelligence will shape those changes, though Wyatt said that while the sector remains in the adoption phase, providers should focus on making today's broker more efficient.
Mortgage Brain is developing a number of solutions using its own internal AI model, scheduled to launch during 2027. These could include an in-house large language model that transcribes a user's speech to text to search for products.
In-house AI and data control
Zahid Bilgrami, CEO of Mortgage Brain, said the AI used was owned and built by the fintech, refined and trained on its own infrastructure, with no data going elsewhere and the intellectual property remaining with the firm.
Both executives stressed that the human in the loop, the adviser, remains essential, with AI working best when inserted into an existing framework. Bilgrami said embedding AI should enhance advisers' "humanness" rather than erode it, and that time freed up by technology should allow advisers to improve their interactions with clients.
Wyatt noted the current process involves keying in data and moving between systems to find a suitable product, which Mortgage Brain plans to simplify. The firm's role, he said, is to address the "pain points" felt by advisers, including enhancing mortgage research capabilities and notifying advisers of information gaps that could support case packaging.
The "grey space" and discretion
One adviser at the discussion highlighted the "grey space" some cases sit in, where lenders accept applications at their discretion. Wyatt said AI had the ability to return results on a traffic light basis, letting advisers know which cases might fall just outside a lender's criteria and could be worth a further conversation.
Cost and data concerns
Referring to Mortgage Brain's AI Charter, published earlier this year, Bilgrami said some users do not know the right questions to ask of providers and platforms, and that the Charter would point people in the right direction.
He also raised concerns about the economics of AI, noting that subscription costs are currently "massively subsidised" by investment capital — a £20-per-month subscription for the consumer costs between £400 and £600 for the provider. Bilgrami cautioned that some firms have made permanent decisions to cut staff and restructure without questioning how their cost base might change, and advised asking technology providers how much a three- or five-year contract would cost, as token costs would likely inflate over time. He described the £20-per-month cost as "unsustainable" for providers.
Users should also ask where the data they put into AI tools goes — a question Bilgrami suggested could otherwise be a "class action suit waiting to happen".
Source: Mortgage Solutions