Loans etc offers commission boost

Loans etc is now charging a flat fee of £299 for all application form-only referrals from the secured loan lenders on its panel.

After Loans etc takes its fee, introducing brokers will retain the rest of the commission from secured loan sales on top of any payment protection insurance payments but only if the firm acts as lone packager.

For example, if total commission amounts to £1,500, Loans etc will only take the flat fee. The promotion applies to completions before November 30.

Graham Brent, managing director of Loans etc, says: “Since accelerating our drive for business-to-business work this year, it is clear that unpackaged application form-only enquiries are where we have the greatest success, highest conversion rates and biggest compliance satisfaction.

“Although we are happy for introducers to retain control over certain parts of the loan sale process, we hope this offer will encourage many smaller brokers to leave the specialist skills of selling and packaging enquiries in the hands of experts who will handle the related administration.”