Impact Specialist Finance has launched a referral service for its broker partners.
The service can manage regulated and non-regulated referrals on bridging, commercial, later life lending (including equity release), specialist residential, buy-to-let and other areas of the specialist lending market.
The aim of the service is to offer broker partners, and their clients, easier access to specialist advice on cases that may be potentially time consuming, require expertise outside of their core business or where they simply don’t have necessary the permissions in place.
Impact Specialist Finance says it will deal with the client directly and cover all compliance and regulatory needs. In return a percentage payment of the lenders normal recommended procuration fee will be paid to the introducer and they will be kept updated throughout the process and dealings with the client.
A dedicated team has been set up within Impact Specialist Finance to deal with enquiries and manage cases all the way through from application to completion.
Impact Specialist Finance guarantees that it will not cross-sell – either now or in the future – to any clients referred to it for mortgage advice.
Dale Jannels, managing director at Impact Specialist Finance, said: “Intermediaries cannot be expected to be experts in all areas of the mortgage market, especially when it comes to some of the more niche areas of specialist lending. These are often complex transactions which require speed, specialist knowledge and established relationships in order to find the right solutions to match individual client needs.
“Those intermediaries who don’t have referral relationships in place could be missing out on valuable revenue streams and potentially closing the door on some alternative lending solutions for their clients. Not to mention passing over the admin burden which will allow then to concentrate on other revenue generating activities which they are more familiar with.”