"It will certainly result in better customer outcomes and a broader product offering for those brokers that are involved."
The new business will only advise on secured loan products and will accept referrals from qualified mortgage advisers that have already assessed their first charge mortgage options.
The Brilliant Group also has alternative options for brokers that advise on second charges through its packaging and club channel.
Matthew Arena, managing director of Brilliant Group, said: “We always look to identify gaps in the market where there are inefficiencies that we can improve for intermediaries. The secured loans market is a fantastic opportunity for mortgage advisers to add real value to their clients but advisers are rarely happy referring their clients.
"The new Brilliant Loans proposition gives mortgage advisers the comfort they need and the process and fee structure are as simple and as client friendly as possible. It will certainly result in better customer outcomes and a broader product offering for those brokers that are involved.
"The opportunity to recruit experienced staff in this field has allowed us to deliver something that adds value to the sector. Not only is the proposition focussed on the needs of clients and their existing advisers but it is backed by expertise and a significant software investment.”
