From Julia JenkinsIt was interesting reading your news story about secured loans and the comments made by Steve Walker of Promise Finance in Mortgage Strategy (November 21). I attended the seminar at the Mortgage Expo mentioned in the article and was disappointed that the options available for brokers to conduct secured loan business were neither mentioned in the story or in the seminar. From the 50 attendees at one sitting, only two raised their hands to acknowledge that they were involved in secured loans. It is clear that the lack of broker activity in the secured loan sector has evolved due to lack of knowledge and inadequate resources. Mortgage introducers in general have passed the name and address of their client to one of the major credit broker/packagers to deal with directly. Surely it would be in the best interest of the broker to retain control over his client base? In any case, when regulation comes, the FSA will require the customer-facing broker to have given the advice. So how can one justify passing a lead to a credit broker and then be responsible for giving the advice? SourceIT Technology LLP has recognised this niche and created a second charge sourcing system for brokers called CalcULink. A web-based sourcing system, it enables the broker to source a secured loan deal for his client and then transmit the data to a packager of his choice. Anyone wishing to test the system can visit www.calculink.co.uk free of charge and experience its capabilities. It is the way forward for brokers wishing to enter the secured loan sector.
- Top trends
SmartNewHomes.com has relaunched its website with an area especially for first-time buyers and retirees, an overseas area covering new homes for sale in sunnier climates, including America and Spain, and an investor section including details of the recently launched Smart Investor Services across the UK. Additionally, SmartNewHomes.com has partnered with PropertyPriceAdvice.co.uk to feature instant, current […]
Trigold has amended its Prospector Lite sourcing system for The Exchange users, following criticism that the proposal was a con.
Cheval, the Stanmore based bridging finance lender, has reported high levels of interest from brokers in its interactive website, which was unveiled at Mortgage Business Expo in November. Cheval, which was the first bridging finance lender to join the CML, has also seen business levels rise significantly since it issued its code of conduct in […]
A new Lawpack book aims to help landlords by providing ready-drafted letters for dealing with common letting situations. Titled Landlords Letters – Plugging the Communication Gap between Landlords and Tenants, it provides guidance on when to use each letter. Low-cost insurance Britishinsurance. com has launched low-cost loan insurance. The firm says it costs under a […]
Smart utility metering; fitness trackers; connected cars; smart factories; precision agriculture: the internet of things encompasses myriad applications. But how do you gain exposure – and profit – from this growing trend, asks Neptune fund manager & CTO Ali Unwin. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating […]
News and expert analysis straight to your inboxSign up