Promise Solutions has added West One formally to its sourcing platform and made the products available to its brokers.
This comes after it helped West One with testing its new products and procedure.
Steve Walker (pictured), managing director at Promise, said: “The test phase and loan completions so far have made it clear that West One will help brokers to place more cases and at better rates. We have been delighted at the service we have received from the West One team and surprised by the amount of business going their way.
“From first glance at the criteria it isn’t obvious where West One will fit in to the panel. However the products have been designed cleverly to suit customers with a variety of circumstances and an experienced underwriter will identify more business for West One than they might expect, in some cases beating other lenders by 2%.”
Marie Grundy, sales director at West One, said: “Launching our second charge proposition is an exciting milestone in the development of our long-term lending, and it’s exciting to see this now rolled out and put into practice. This is especially the case when we are able to partner with firms like Promise, who have in-depth knowledge and expertise of the second charge market place.
“Our proposition is built upon West One’s solid reputation for taking time to understand individual borrowers’ needs, meaning we can cater for those who require a bespoke approach to lending. Every case is different, and we’re proud to be able to help borrowers of all shapes and sizes.”
Walker added: “We are encouraging all brokers to take a fresh look at any second charge cases which have been recently declined. Our supporting brokers will have already been benefitting from West One products because we have been placing business behind the scenes. Other brokers may have missed opportunities to offer their clients lower rates or place cases which are currently going nowhere.
“Our sourcing platform allows them to underwrite accurate West One quotes and factor in CCJs, arrears, defaults etc which is so much more valuable than just getting a comparison quote.”