The Mortgage Alliance is entering the secured loans market via a strategic partnership with Loanmakers.
The deal is part of the mortgage club’s move towards offering a full range of mortgage-related products to brokers.
The firm now distributes life insurance and offers solicitor and conveyancing referrals, lead generation plus residential and commercial mortgage deals.
The partnership marks TMA’s first strategic change under new boss Phil Whitehouse.
He says he chose Loanmakers because of its commission structure and marketing support that will be extended to TMA members as a result of the partnership.
Loanmakers offers brokers a 40% share of the net income generated by each completed deal.
Whitehouse says: “It is important to choose the right partner when looking to add to any service proposition. Loanmakers was the best fit for us in terms of its offering.
“Brokers need to know they can trust the firms processing their business. This is just another way that we can increase efficiency by giving brokers access to multiple products with a single phone call or email, while providing deals and services they can rely on.”
He adds that Loanmakers offers a strong technological proposition that will help TMA’s members convert more deals in less time.
Sole broker and TMA member Roy New says the partnership presents brokers with a good opportunity to branch out, particularly as few currently offer secured loans.
But he says: “There are many secured lenders in the market and the bottom line for brokers should always be finding the best rates for clients.”