Fluent’s COO, Tim Wheeldon, who had a pre-launch demonstration of Mortgage Brain’s latest second charge module has been particularly impressed with the functionality.
He said: “Mortgage Brain’s new sourcing engine is very impressive. For brokers who have been reluctant to engage with second charge loans, I would certainly advise them to get a look at the latest from Mortgage Brain. It is the first time I have seen the facility to compare a secured loan directly with an equivalent remortgage with all the associated fees laid out. Being able to generate an ESIS directly is a bonus as well.
"Sourcing facilities like this will go a long way to helping demystify secured loans and give brokers the confidence to be more proactive in looking seriously at where a secured loan is actually better for the client.
"Savvy brokers though will, as they do with first charge mortgages, still want to engage with a human expert to ensure they have the best deal for the client before a full application is made. However, the new breed of sourcing engine will become a fantastic additional helpmate in bringing more brokers round to the advantages of secured loans for capital raising clients.”
