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Brightstar enters into unsecured lending

  • 10/11/2016
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Brightstar enters into unsecured lending
Brightstar has launched into the unsecured lending market through a joint venture with The Financial Media Group (FMG) arm, DotBroker.

Intermediaries using Brightstar will now have exclusive access to a range of unsecured loan products as DotBroker is fully integrated into Brightstar’s sourcing system, EasySource.

They will be able to search across multiple unsecured loan lenders, including those with good and impaired credit. Brokers will also be able to compare loan results with second charge mortgage results.

All applications will be managed on a referral basis and DotBroker and its lender partners will manage the application all the way through to its completion.

Rates for unsecured loans will start at 3.5% APR with intermediaries able to earn up to 6% of the value of the loan.

CEO of Brightstar, Rob Jupp, said the company had made it possible for intermediaries to help their clients search for the best value loan by comparing costs.

He added: “This innovation will bring real added value, both to intermediaries and their clients.”

Ray Bohringer, CEO at FMG, said: “There has been a lot of industry discussion focusing on best advice, we feel an unsecured offering is therefore essential, and preferably from a provider with no interest in the intermediary’s client.”

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