Mortgage advisers urged to take advantage of second charge loans with no packager fees
Tony Sutton, managing director at Specialist Financial Services Ltd (SFS), has urged mortgage advisers to take advantage of changes to their brand the Loan Processing Centre (LPC).
Mr Sutton was speaking following the announcement of the changes to their second charge loan packaging service aimed at professional mortgage advisers that wish to retain full control of the application, but need the backup of experienced second charge professionals.
LPC offers mortgage advisers access to a whole market of second charge proposition, without the massive fees many second charge packagers try to charge.
With products from all 18 major lenders and in response to the lack of decent sourcing system for second charge loans, they have developed their LoanQuote™ sourcing software.
Quoting from almost two thousand different second charge products, including owner occupied, BTL, consumer BTL, HMO, semi commercial and commercial second charge loans, they can provide a fully compliant sourcing solution.
And Mr Sutton said: “Since MCD the process of completing a secured loan is much easier, but we find many authorised brokers shy away from considering a second charge as many current packagers make the whole process so complex. However, with variable interest rates now on offer from just 3.73% and fixed rates from just 4.03%, it is vital that mortgage advisers use this valuable product.
“Best of all, we offer all of this without charging any packager or broker fees. You retain full control of the application, your earnings and provide the advice. At LPC we will not contact your client, but will provide you with all the tools you need to complete loans quickly, compliantly and most importantly, give your client the best second charge deal available for their circumstances.
“Our process will always be cheaper for your customer and allows you to not only control the application from start to finish, but also control your income.”