Y3S launches secured loan sourcing system
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Y3S Loans has launched miLoan, a new secured loan sourcing system for mortgage brokers and IFA’s.
Brokers can use their online account to obtain secured loans quotations from the UK’s second charge lenders which can then be submitted for processing or saved for the future. Users are offered commissions paid on day of completion, translating to around £1,600 for a £30,000 loan, with no claw back.
Larger brokers or financial networks can create accounts for sub-users or appointed representatives. Built-in reports are available to view usage statistics. On a test launch in June, more than 400 brokers registered to use the system.
Matt Cottle, director of Y3S, says: “We are providing brokers with a free, powerful platform to earn a quality additional income through secured loans
“We’re a people business and miLoan broker builds on the Broker Manager experience by providing web access to the same system that our staff use every day.
“Our vision for the future of intermediary–led secured loan brokering is well underway. The miLoan platform will be a launch pad for new developments to make brokers lives easier and more profitable.”
Simon Stern, director at Prestige Finance, says: “We have worked with the team at Y3S for a number of years and enjoy a very close working relationship with them at all levels.
’Despite the very tough economic conditions, they have constantly striven to invest and develop new systems which help provide a unique and un-rivalled level of service to their introducers. We look forward to continuing to work closely with Y3S and to help them in their efforts to increase levels of business in the secured loan market with miLoan broker”.
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