BDS Secured Loans extends 10% proc fee promise

BDS Secured Loans has extended its pledge to pay brokers an extra 10% commission on all deals received by April 30.

The firm, which launched last September, already offers brokers half of the case income it receives after costs.

Mark Clinton, director of BDS, says: “There’s no doubt we’re working in a challenging marketplace.

“This makes it even more important for us as a master broker to implement extra initiatives to add greater value to brokers’ propositions while maintaining good service with quick and efficient processing.”

John Lukanik, director of Capricorn Mortgages, says: “This incentive sounds fine for brokers looking for extra income but they must ensure they’re giving best advice.

“A deal like this isn’t likely to push us into secured loans. We’d be more likely to farm out that business because we object to chasing proc fees.”