Mortgage Next is now offering its brokers access to secured loans through a deal with finance broker Freedom Finance.
The agreement is seen as a bid to strengthen the distributor’s ambition to become a one-stop financial shop for advisers following its decision to apply for principal status under the FSA’s regime next year.
The move increases Mortgage Next’s offering to advisers, filling the gap between taking a further advance or remortgaging in order to consolidate debts or to avoid remortgaging onto a sub-prime deal. It claims that it will be able to complete loans within two weeks.
Justine Tomlinson, marketing director at Mortgage Next, said: ‘Our secured loan service will be fast and efficient, making the sensitive process of applying for loans as easy and friendly as possible.
‘Freedom Finance has an excellent reputation and shares our approach to doing business ‘ providing competitive products, delivering a first class service and rewarding advisers well.’
l Derbyshire Building Society is to move into the non-conforming market through a deal with Kensington Mortgages. Borrowers will automatically be referred to Kensington if they do not meet Debyshire’s lending criteria.