Connect for Intermediaries is enhancing its second charge proposition by adding Lenderlink and Fluent for Advisers to its lending panel.
Connect already has its own small panel of 2nd charge lenders; by adding specialist broker Fluent for Advisers, and Lenderlink – a new system from Specialist Mortgage Group – Connect’s Network Members will have access to a wider range of lenders and choices on how they want to access these lenders. It also gives brokers the opportunity to refer 2nd charge cases if they prefer.
Launched in July 2018 by the Specialist Mortgage Group – parent company of Y3S – Lenderlink offer access to a panel of second charge lenders. All Connect Network Members will automatically be registered and will be able to use the system to initial research solutions and create quotes. Applications can be submitted directly to the provider or the client can be referred to Lenderlink.
If the case is referred to Lenderlink, they will take on the responsibility for the advice to the client and charge the client a fee. The member will know the amount of fee in advance and their expected share of the fee.
Fluentfor Advisers has access to a huge product range and already arranges one in five loans in the UK. The fee structure is flexible with both the client fee and commissions agreed in advance. And while Fluentfor Advisers will take over responsibility for the advice, brokers and their clients are able to track the case all the way through to completion.
Liz Syms, CEO of Connect for Intermediaries said: “We are always looking to enhance our proposition for brokers, and by adding Lenderlink and Fluentfor Advisers, not only are we opening up access to many more lenders, but we are also giving our Network Members the option of referring their 2nd charge enquiries to the expertise of these providers.”
Matt Cottle CEO of SMG said: “We are very pleased to be offering the very latest second charge sourcing technology into Connect.
“We’ll be working closely with their ARs to make it easier for them to identify and transact second charge mortgage business through technology webinars and face to face software demonstrations.”
And Jeff Davidson Head of Intermediaries at Fluent for Advisers says they are delighted to be given the opportunity to work with Connect Mortgages. He believes Fluentfor Advisers’s investment in technology, innovation, compliance – and its people – will be key to a successful relationship.
“Liz Syms and her senior management team have built a hugely effective and respected business that caters for the widest range of advisers,” said Jeff, “and we are looking forward to working closely them to support their members and add real value to the network.
He added: “We hope to provide Connect, its advisers and the end customer with an unparalleled level of service which cannot be matched anywhere within our industry.”
Connect Network Members will still have the option to use the Connect panel for direct submission to the lenders via the Connect Case Management Team, where the member will retain responsibility for the advice and can control the client fee charged.
Liz concludes; “Each of the three options has its benefits; Lenderlink offers a simple and straightforward system for quotation and application, Fluentfor Advisers offers flexibility with the fee structure and a high level of experience, while Connect’s own panel gives those who want to retain control of the advice the option to do so, and keep all the fees charged.”