Orbiter says the capability has been launched to meet the increasing demand for secured loans as an alternative means of securing funds for clients.
Pete Thomson, sales and marketing director at Orbiter, says: “Brokers are used to being able to source mortgages and secured loans, but to be able to compare them to each other is something we are sure is going to prove hugely popular with advisers in the current market.”
Wayne Lee, from north-west based broker Alpha Money, says: “Mortgages have been incredibly difficult to obtain for many clients after the turmoil in the mortgage market, and this had led to secured loans becoming an increasingly popular option.
“An online facility that enables mortgages and secured loans to be directly compared is a really useful feature of the Orbiter system and something that can be used very effectively in face to face discussions with clients.”
The addition comes in the wake of a number of other recent changes to the system including its ability to offer tranche management facilities to lenders and compliance monitoring to networks.