Introducing LoansBrain www.loansbrain.co.uk – the clever and free way to source a second charge loan.
The deadline for MCD is fast approaching and everyone is talking about how it will affect them! From 21st March, secured loans will become regulated in accordance with the European Directive by the Financial Conduct Authority (FCA).
We are delighted to announce the launch of LoansBrain, www.loansbrain.co.uk our whole of market second charge sourcing website created solely for mortgage brokers. It enables mortgage brokers to source a range of products from a whole of market range of secured loan Lenders. Brokers can either source a secured loan themselves and then refer to a Master Broker or simply refer. The Master Broker behind LoansBrain is Fluent Money – the UK’s largest second charge Master Broker and winner of the Loan Talk Awards 2015 for Largest Loan Broker. Get to grips with the system by booking a free 10 minute webinar here.
Why a Secured Loan?
A client may want to opt for a secured loan to keep a long-term low rate, because they only require the loan for a short period or because their circumstances have changed and remortgage is no longer an option. When:
- Your client is already on a competitive mortgage rate
- Your client is tied into their mortgage with heavy redemption penalties
- Your client has an interest only mortgage
- Your client needs a larger sum over a longer term to bring the monthly cost down
- Your client needs funds quickly with no upfront fees to pay
- Your client’s credit status has changed since their last mortgage application
- Your client needs early settlement flexibility
- Your client needs to raise capital for a non-traditional purpose
- Your client is unable to obtain a re-mortgage or further advance
- Soft credit searches at quotation stage is important
LoansBrain gives brokers a way to compliantly source Whole of Market second charge loans online. It is completely free to use and there is no need to register. If you’d like to know more about LoansBrain or would like to join one of the free webinar sessions, visit the website at www.loansbrain.co.uk
For a comprehensive understanding of MCD and how it is affecting Mortgage Sourcing generally please see our MCD designated page.