It has been set up with an aim to improve broker offering in the second charge sector and provide more tailored support for advisers.

The firm will advise on secured loans products, which include all forms of second charges and equitable charges where there is no first charge.

The five-strong team is led by Lee Parkin, who has worked with Brilliant Solutions since 2016.

It will accept referrals from qualified mortgage advisers who have considered first charge mortgage options for their clients. Accepting referrals in this way will mean the “most appropriate solution” for the borrower is found, according to Brilliant Solutions.

Brilliant Solutions said the company had been launched to “provide better outcomes to clients” by aligning the secured loan process with existing qualified first charge mortgage advisers, which it says does not always occur in the current market.

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The firm will employ a “low and transparent fee structure” and the wider group, Brilliant Group, can offer alternative second charge options for advisers via its packaging and club channel.

Matthew Arena (pictured), managing director of Brilliant Group said: “The secured loans market is a fantastic opportunity for mortgage advisers to add real value to their clients, but advisers are rarely happy referring their clients.

“The new Brilliant Loans proposition gives mortgage advisers the comfort they need, and the process and fee structure are as simple and as client friendly as possible. It will certainly result in better customer outcomes and a broader product offering for those brokers that are involved.”

He added: “The opportunity to recruit experienced staff in this field has allowed us to deliver something that adds value to the sector. Not only is the proposition focused on the needs of clients and their existing advisers, but it is backed by expertise and a significant software investment.”