Private Label pays brokers average fee of £2.5k

By Bridging Loan Directory 18th June 2019

Private Label has paid brokers an average referral fee of nearly £2.5k since the new service was relaunched by The Brightstar Group in March.

The boutique service, which helps brokers to place high value residential first charge cases, has already handled more than 80 cases with loan values of more than £750k.

Brokers are able to choose between a traditional non-advised packaged service that searches the market for the most appropriate solutions, packages the case and manages it from enquiry through to completion, or the referral option, where a broker can refer the case to Sirius Property Finance to provide the advice and work directly with the client.

So far, the average fee paid out to brokers who choose to work with Private Label is £2490.

As well as expertise, the service will also provide access to lenders and private banks that brokers may not be able to use directly, and lenders that have agreed to provide a dedicated, bespoke and exclusive underwriting process on Private Label cases.

Rob Jupp, pictured, CEO at The Brightstar Group, said:

“Earlier this year we introduced the next stage in the evolution of the Private Label brand, with a focus on helping brokers to place high value cases that will often include circumstances such as complex incomes, non-standard property types, foreign nationals or the need for higher income multiples.

“In just three months since the launch of Private Label’s new boutique service, we have proven not only that we have a team of specialists who have the knowledge and the relationships to successfully place large, complex loans, but also that working with Private Label can be a very lucrative choice for brokers.”