Brilliant Solutions has announced the launch of a new secured loan service, Brilliant Loans.
The new business will only advise on secured loan products and will accept referrals from qualified mortgage advisers that have already assessed their first charge mortgage options.
Brilliant Solutions stated that it has launched the service to provide “better outcomes to clients” operating in the second charge space, by ensuring that the secured loan advice process works alongside existing qualified first charge mortgage advisers, something that the broker suggested does not always happen in the current market.
By only advising on secured loans and only accepting referrals from mortgage advisers that have considered all first charge alternatives, the firm said that Brilliant Loans will be well placed to ensure that the end result is the most appropriate solution for the borrower.
The business was launched following a successful pilot and the recruitment of a team of secured loan professionals.
“We always look to identify gaps in the market where there are inefficiencies that we can improve for intermediaries,” commented Brilliant Group managing director, Matthew Arena. “The secured loans market is a fantastic opportunity for mortgage advisers to add real value to their clients but advisers are rarely happy referring their clients.
“The new Brilliant Loans proposition gives mortgage advisers the comfort they need and the process and fee structure are as simple and as client friendly as possible. It will certainly result in better customer outcomes and a broader product offering for those brokers that are involved.
“The opportunity to recruit experienced staff in this field has allowed us to deliver something that adds value to the sector. Not only is the proposition focused on the needs of clients and their existing advisers but it is backed by expertise and a significant software investment.”
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