The loan sourcing tool, The Lending Wizard, lets brokers search for secured loan options without placing a footprint on the client’s credit profile.
Managing director of the network Martin Wilson said the sourcing system has been developed to comply with the rules being brought in by the European Mortgage Credit Directive which stipulate that second charge loans be treated the same as mortgages.
Nicola Mooney, operations manager at Freedom Finance and The Lending Wizard, said: “The current regulatory landscape is reassuring brokers that secured loans are a credible option and should now be considered alongside first charge products when looking for the best possible solution for their customers.”
The Right Mortgage and Protection Network was set up in February this year by ex-PTFS chairman Wilson.
