Cardiff-based intermediary broker Y3S Loans is planning to unveil a secured loan network in the coming weeks.
It explains that with regulation of the secured loans industry about to fall under the remit of the Financial Conduct Authority (FCA), smaller second charge loan packagers will soon be able to broker their secured loan business through Y3S Loans under a network-type agreement with the firm.
Y3S will provide a dedicated expert to help with plan-fitting and underwriting cases, so that clients receive the best deal possible. It will also provide access to miLoanQuoter – a brand new system to help its network users to quote secured loans, refer cases out of normal criteria, request underwriting assistance and create loan documents at the click of a mouse.
“Our future network users will get exclusive access to all of the tools that have helped make Y3S Britain’s most successful intermediary broker,” said director Matt Cottle (pictured).
“The systems on offer together with the best underwriters in the business will help anxious brokers find a new balance at a time when they are most concerned about the cost of implementing regulation into their organisation. Our compliance department will eliminate their fears, by taking the regulation reigns for them, allowing them to get on with the job they are used to doing.”
Barney Drake, operations director, added: “Smaller packagers who become Y3S network users will be able to access our award-winning processes from the off.
“They’ll immediately feel the benefit of what can be achieved through working with a packager that writes volume business, such as increased conversion of business that is out of criteria, elevated commission structures, access to limited lenders and exclusive products.”
The firm is currently piloting the scheme before launching to the wider packager market in the coming weeks.