Cheshire-based national loan packager Loanoptions.co.uk has launched a broker-only service aimed at proving the importance of secured loans as an integral part of the choices for clients wishing to raise money.
Andrew Moody, managing director of Loanoptions.co.uk, explained that while he understands why mortgage brokers have tended to shy away from secured loan business in the past, he believes there is scope to add a valuable addition to a brokers’ armoury.
He said: “We offer a full advisory service, which means that we take the client through the whole process from start to finish while keeping the introducing broker fully up-to-date.
“So not only can this be a source of extra revenue for the broker but a value-added service to offer customers when conventional means of capital raising are not appropriate.
“We only deal with brokers and our goal is to have secured loan facilities seen as the opportunity they are and adopted by mortgage brokers as part of their everyday advice.”
Thomas Reeh, chief executive of Midland-based brokerage The Black & White Group, said: “The secured loans market is very strong and the first quarter of this year has shown record results for us, but having said that, anyone entering the market will have to fight hard for business.
“Mortgage brokers have to drive volumes through tougher times and, as mortgage business is slowing, the secured loan market can be an added option.”
