Brightstar has partnered with DotBroker to provide its intermediaries with exclusive access to a range of unsecured loan products.
From 15 November, DotBroker will be integrated into Brightstar’s sourcing system, EasySource. Intermediaries will be able to search across multiple unsecured loan lenders, catering for clients with good and impaired credit. The loan results can be compared with a second charge mortgage sourcing result list where applicable.
If an unsecured loan is deemed the best solution for the client, EasySource will enable them to submit a single application to multiple lenders. All applications are managed on a referral basis, leaving the DotBroker team and their lender partners to manage the application right through to completion.
The offering ranges from loans for people with a prime credit rating to those with impaired credit. Rates will start at 3.5% APR and intermediaries can earn up to 6% of the value of the loan.
Rob Jupp (pictured), CEO of Brightstar, said: “Unsecured loans are vital financial tools that many intermediaries are asked about by their clients, but few have the opportunity of assisting, either because they do not know how to search and compare rates, or because until now there has been little or no commission available on an unsecured loan.
“Now Brightstar has made it possible for intermediaries to help their clients by searching for the best value loan on EasySource and comparing it to the cost of a second charge or remortgage. This innovation will bring real added value, both to intermediaries and their clients.”
Ray Bohringer CEO at The Financial Media Group, which DotBroker is part of, added: “This alignment is great news for us because Brightstar has an enormous reach to a very diverse group of intermediaries.
“There has been a lot of industry discussion focusing on best advice, we feel an unsecured offering is therefore essential, and preferably from a provider with no interest in the intermediary’s client.”
