Next generation of sourcing systems crucial to second charge development
Fluent for Advisers, part of Fluent Money, the UK’s largest second charge provider, is convinced that the next generation of sourcing systems will be invaluable in popularising secured loans among the intermediary community.
Fluent’s COO, Tim Wheeldon, pictured, who had a pre-launch demonstration of Mortgage Brain’s latest second charge module has been particularly impressed with the functionality.
“Mortgage Brain’s new sourcing engine is very impressive. For brokers who have been reluctant to engage with second charge loans, I would certainly advise them to get a look at the latest from Mortgage Brain. It is the first time I have seen the facility to compare a secured loan directly with an equivalent remortgage with all the associated fees laid out. Being able to generate an ESIS directly is a bonus as well.
Sourcing facilities like this will go a long way to helping demystify secured loans and give brokers the confidence to be more proactive in looking seriously at where a secured loan is actually better for the client.
Savvy brokers though will, as they do with first charge mortgages, still want to engage with a human expert to ensure they have the best deal for the client before a full application is made. However, the new breed of sourcing engine will become a fantastic additional helpmate in bringing more brokers round to the advantages of secured loans for capital raising clients.”