Intermediaries must embrace specialist lending in 2012

By Bridging Loan Directory -

The results of a poll carried out by Y3S have revealed that the average mortgage intermediary comes across 14 secured loan enquiries per year.  Half of these come about as a direct request from clients and the other half are offered as a result of a remortgage not being a suitable solution at the time.  Intermediaries that responded see on average 62 remortgage clients per year, 13 of whom they are unable to help, 6 of which they would not offer secured loan because they thought it would not be the best advice for them.  More than 90% of respondents said that having access to an online secured loan quotation system will help them earn more money next year.

The Cardiff-based brokerage polled more than 2000 registered users of its system in November.  “These results demonstrate that brokers see genuine value in being able to access quality secured loan products for their clients whenever they need to”, said director Matt Cottle.

Almost three quarters of respondents said that they would use an online system to gauge their client’s ability before contacting a broker to take the next step; the average broker would earn an extra £12,000 per year if they placed and completed on just half of their potential secured loan clients.”

Early in 2012 Y3S will launch what it says is an industry first; a bridging finance module of its popular online quotation system miLoan.