Opus Mortgages has launched a secured loans division, Opus Loans, in partnership with the GE Consumer Finance-owned igroup. The stand-alone division will offer a full range of secured loans to the intermediary market.
Lockhart Bruce, finance and marketing director at Opus, said that while remortgages are currently driving real growth in the market, for many clients a secured loan might be a cheaper and better option. He hoped Opus Loans’ entry into the £17bn market would lead to a major new stream of business.
‘IFA’s have traditionally shied away from secured loans. Now they have the opportunity to capitalise on a new income generator, secure in the knowledge that with Opus Loans they are giving best advice.’