TFC Homeloans has launched a new Introducer Appointed Representative service.
The referral-only service will enable introducers who are either not regulated, have more business than they can handle or whose consumer credit permissions have lapsed, to refer cases and receive commission.
Introducer Appointed Representatives (IARs) can refer commercial loans, non-regulated buy-to-let and bridging deals, and second charge loans to TFC.
Nigel Payne, managing director of TFC Homeloans, said: “This is no brainer for those introducers who have business they can’t deal with, either because they are too busy, it’s outside of their knowledge base, or they don’t have the relevant authorisation.”
Introducers just need refer a few basic client details to TFC Homeloans, which will handle the whole case, and pay 50% of the commission after costs on completion.
Payne added: “We know there is a demand for this service. Many brokers are aware that they need to consider second charge lending from 16th March 2016 but don’t feel confident about arranging these deals. Others just want to focus on straightforward cases. We can help following a simple referral.”