Mortgage Brain launches Secured Loan Trading Exchange
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Mortgage Brain has launched a new online secured loan sourcing and application system, through a strategic partnership with insurance and secured loan sourcing system specialists, Source Software.
The Secured Loan Trading Exchange offers a complete solution for mortgage intermediaries can source, compare, illustratem, quote and apply online for a secured loan from over 17 lenders, with support from four specialist secured loan packagers.
The SLTE will enable users to answer a few questions in order to instantly receive a choice of loans and provide their customers with compliant Key Fact Illustrations – including monthly costs, APRs and total amounts payable.
Source Software managing director Malcolm Guest says: "Like Mortgage Brain, we want to make it easier for intermediaries to access secured loans, and be able to treat their customers fairly by sourcing from a range of lenders.
“With more and more people choosing to improve their homes or consolidate debts, demand for secured loans is increasing. We believe that - just like the Source and Mortgage Brain - Secured Loan Trading Exchange will become an essential tool for intermediaries.”
Mortgage Brain chief executive Mark Lofthouse says: "The secured loans industry provides a vital service for thousands of clients using their property equity to consolidate debt, make home improvements and purchase goods in a cost effective way.
"Mortgage intermediaries are increasingly recommending secured loans to their customers as an appropriate part of their customer sales and advice process and the Secured Loan Trading Exchange has been designed to enable them to recommend the best product and receive a reasonable commission for the provision of this important service.”
