Fluent Money launches specialist business for brokers

Fluent for Advisers will offer both a full referral and advice service and a selection of potential products for brokers to make a recommendation.

Fluent said it wanted to separate the company’s different business channels and provide individual adviser businesses and networks with a clearly defined resource.

Head of intermediaries Jeff Davidson said the firm was committed to helping brokers understand second charge loans and how they can be integrated into their business.

Second charge lending used to be the preserve of master brokers but the Mortgage Credit Directive (MCD), implemented on 21 March, opened the market up more widely, handing mortgages and seconds equal regulatory status.

Following the MCD, second charges were no longer governed by the rules of the Consumer Credit Act 1974, which had prohibited brokers and lenders from charging fees upfront before the loans completed.

Since the change in rules, adviser support service providers as well as lenders have increasingly come out to help advisers distribute the products directly.

Fluent Money chief operating officer Tim Wheeldon said: “We are fully engaged with the intermediary market in the UK. Having developed our dedicated proposition for brokers in recent years, with the launch of Fluent for Advisers, we are ready to proactively seek a dialogue with every broker and adviser in the UK. We look forward to serving you all.”