New Packaging Service Available For Secured Loan Brokers November 28th, 2008
You may have read last week how an increasing number of loan providers are withdrawing from the new lending market, particularly through loan brokers and financial intermediaries.
Most recently, the Halifax stopped offering unsecured loans via brokers and white label loans became the latest lender in a long list of providers to withdraw from the secured loan market altogether. This has the effect of limiting the level of advice and service which can be provided by an independent loan broker, which in turn means it is more difficult for a borrower to obtain the best loan deal to suit their personal circumstances.
But now, Loan Options, a specialist secured loan packaging company who deal exclusively with loan brokers and intermediaries, have introduced a new packaging service specifically designed to help brokers, particularly those who may have had their existing agencies with lending organisations cancelled, to be able to place applications with a wider range of secured loan providers, which they may not otherwise have been able to access through the more traditional route of a direct agency.
Furthermore, Loan Options will provide a bespoke service to its brokers, allowing them to do as much, or as little of the work on each case as they would like, depending on their own particular level of involvement with the case.
Andy Moody of Loan Options said “We believe that today’s market requires the ultimate in flexibility and that is what Loan Options is now offering. This is an evolutionary step for the market and offers the ultimate bespoke service based on the individual needs of every intermediary. Loan Options is all about choice and this is the next evolutionary step up from traditional satellite arrangements.”
This service should offer secured loan brokers and intermediaries access to a wider range of lenders for their clients, which ultimately means that the person applying for a loan ends up getting the best possible deal available to them.