Y3S has updated its miLoanbroker.com secured loan sourcing system, opening it up to all brokers.
Any broker who wishes to generate accurate secured loan quotes can now do so anonymously, for free, and without the need to register or login. Loan quotes can then be compared “instantly” with personalised remortgage quotes, identifying the cost savings that can be made either way in order to make a well-informed secured funding decision.
The Cardiff-based firm says that with just a few months to go before FCA regulation of the secured sector begins, the new version of miLoan will ensure that all mortgage brokers and IFAs are able to get the information they need quickly and accurately. A product suitability letter can be printed for the client to take away, and for their own file.
“We have been carefully analysing user behaviour from the vast amount of data that has been collected in order to eliminate unnecessary steps in the process of obtaining quotes and submitting applications.” said Y3S director Matt Cottle.
“The user experience is slicker and faster making secured loans more accessible than ever before, and we urge all intermediaries to use it as much and as often as they like.
“Information wants to be free and it’s our belief that good technology should be made available to everyone in our industry, no matter who they are, without limits or the hindrance of any extra cost implications.
“Some brokers only come across the odd case every now and again and they don’t want or feel the need to create a user account. The facilities on offer through miLoan will always work in their best interests, to provide them with a useful tool that will help them stay on the right side of the law and earn a significant extra income at the same time.”
Around 55% of all UK mortgage intermediaries have signed up to miloanbroker.com since its launch in 2011, generating £1bn of quotes and £20m of loan completions.