Secured loan master broker Promise Solutions has appointed Steve Wilkes to the role of business development manager (BDM).
He is specifically tasked with assisting introducers who wish to get more involved with secured loans but are not sure where to start.
Wilkes previously worked with most of the Promise team when Steve Walker ran Purpleloans until 2003.
Walker, managing director at Promise Solutions, said: “Brokers and IFAs tend to have a reasonable understanding of where a secured loan may be beneficial, although they may have some weaknesses when it comes to understanding the detail and flexibility of secured loan criteria. However, many are fed up of hearing the benefits and really want hands on help and guidance.
“Steve’s role will be to identify those introducers who wish to develop their secured loan business and proactively work with them to raise their awareness of products, marketing opportunities, technology and best practice which may help them to generate more secured loan income. For Mortgage brokers, the obvious by-product of seeking more secured loan business from introducers and clients is that they will undoubtedly also generate more remortgage opportunities.
“We have seen numerous examples where brokers have lost clients to online comparison sites simply because they didn’t advertise the fact they could arrange secured and unsecured loans.”
Wilkes will be offering Promise’s introducers a combination of office and field based support focussing initially on those brokers who’ve already expressed interest in using the approaches Promise has developed.
Walker added: “The secured loan sector is set to become more professional with greater emphasis on technology, systems, controls and demonstrating TCF, much like the current mortgage market.
“Mortgage brokers who are early adopters will do well and Promise is in pole position to help them and well as having numerous solutions for brokers who, at the moment, just want to scratch the surface of secured lending.”
