The Loans Engine has today launched a fully advised service for all specialist residential mortgage cases.
The new service allows mortgage brokers throughout the UK to access TLE’s specialist residential mortgage panel using its packaging service, and refer cases to TLE where it will take full responsibility for completing the fact find, sourcing, advice and recommendation, and then package the deal through to completion.
TLE's specialist panel primarily assists intermediaries with cases that have been declined by mainstream lenders for adverse credit, maximum borrowing age, or non-standard income types.
Ryan McGrath, Chief Executive at TLE explained:
“At TLE we’re always listening and adapting our products and services to better suit our mortgage intermediaries. We have seen a 500% growth in demand for our specialist residential mortgage proposition over the past 2 years, and with mortgage intermediaries busier than ever, it made sense that we enhance our service and incorporate the full referral service for our brokers.”
Ryan also confirmed that whilst the additional offering will involve it taking on a larger proportion of the workload for these cases, it will not be charging larger fees or paying lower commissions to its intermediaries.#
“We feel strongly that a key facet of being a true specialist finance broker is providing the full service, including mortgage advice. That’s why we never dissuade or deter brokers from using our referral service. Some firms opt to charge additional ‘advice fees’ or lower the share of earnings paid to the Intermediary – this is never the case with TLE. That approach will continue with this new service.”