Specialist network launches unsecured loan panel

The specialist buy-to-let (BTL) and commercial mortgages network has launched a bespoke online portal to allow its members to research unsecured loan options on behalf of their clients.

Advisers will be able to source options from a panel of 15 lenders based on their clients’ credit profile, status and requirements. They can then ask for quotes and apply for the loans, managing the whole process online.

Funds of between £1,000 and £25,000 become available to applicants once their application has been approved.

CEO Liz Syms (pictured) said: “There are times when an unsecured loan may prove to be a cheaper more suitable option than a small second charge or traditional mortgage and it is important that our members are able to consider all forms of finance so to secure the very best product for their client.”

Although the portal is currently only available to the network’s some 110 members, Connect has plans to roll it out to the wider broker community within the coming weeks.

The loans available via the portal are designed to be used for a variety of reasons such as home renovations or other non-property related needs.

The firms said they wanted to fill a gap in the market and felt the demand for the service was there. “We are trying to be quite comprehensive with the services our appointed representatives have access to, to give them another option. It’s also about filling a gap in the market and there is demand driving that,” said marketing manager Geoff Simmonds.

DotBroker CEO Ray Bohringer added: “All FAs should have access to a comprehensive range of unsecured loan products, preferably, from a provider with no interest in their client, other than to provide easy access to market leading lenders.”