The three options, which range from pre-packager, introduction and hybrid, will give advice and support to intermediaries, and help to ensure a smooth transition for those who wish to retain ownership of second charge loans.
The 'Going solo' option is aimed at intermediaries wishing to advise their customers themselves throughout the process and who feel comfortable with thecompliance and responsibility of each sale.
The master broker acts as a pre-packager and does not have any direct contact with the intermediary's client. Using the sourcing portal, intermediaries are able to see accurate options and quotes on offer for their client, based on their credit profile and history.
'Introduction only' allows intermediaries to pass their customers’ contact details onto Freedom Finance who will then take care of the process from sourcing, packaging, processing and finally completion.
Finally, 'Best of both' enables intermediaries to use the sourcing portal and go through a non-advised route. This allows intermediaries to gather accurate quotes for client loans, based on their individual circumstances, without risking damage to their credit score and while still retaining control of the entire end-to-end process. The intermediary is provided with a comparison and will be able to advise their client of all the options on offer before passing them over to their recommended master broker who will be able to complete the sale.
Nicola Mooney, Head of Secured, Intermediary & Business Finance at Freedom Finance, commented:
“With the long awaited MCD now firmly on the horizon, Freedom Finance has been able to offer options to advisors that will help them adapt easily to the changes. Over the last year we have been training our team, recruiting the right talent and updating our processes to ensure we and all the intermediaries we work with are fully equipped.
“As the MCD steadily becomes implemented, the second-charge market will continue to develop and blend even further into the mainstream mortgage market. Many intermediaries will have different needs when it comes to incorporating seconds within their sales process so it is vital we offer the best options and steps to ensure they are truly familiar with all the options available. At Freedom Finance we believe in being adaptable and flexible to market requirements and we aim to ensure the needs of intermediaries are met with a personal and dedicated service that holds the customer at the heart of all our decisions.”
