Secured Loans

Mortgage Trading have recognised that the Secured Loan marketplace is now to hold an ever expanding role in mortgage world and welcome the rollout of the regulatory changes that bring the advice process in line with the first charge marketplace.

Prior to MCD and the regulatory changes the fee restrictions dictated that there could be no upfront fees charged to the clients for your time in completion of your administration work and that a fee could only be made payable to you post completion of the loan with no costs able to be reclaimed should the case not proceed for any reason.

The regulatory changes allow us now to offer an option to the broker and client for fees to be paid upfront, paid on completion or added to the loan and allows you and client flexibility in your approach to mortgage advice.

We are offering a flexible fee proposition to your clients and can work with you to tailor the product to your client needs as follows:

Fees Added Option (See our terms of business below)
We charge a Combined Broker fee of 10% to a maximum of £4,000
No upfront valuation costs to the client
No disbursement fees to be paid
Your commission is paid at 60% of the broker fee after costs
Fees Paid Option
We charge a Master Broker Fee of 2% to a maximum of £2,000 deducted or payable on completion
£299 Application fee
Valuation fee – cost to be advised dependent on valuation requirements (AVM / Drive By / Full Valuation etc.)

Secured Loans can be the correct advice for your clients and are ideally tailored to the following scenarios:

  • Client within current penalty period on the main mortgage account (ERC’s)
  • Affordability calculations and stress testing procedures are minimising your clients borrowing ability – term can be tailored up to 30 years and extend beyond the current mortgage term
  • Credit profile issues are preventing your client from obtaining the most competitive mortgage products
  • LTV restrictions and further advance declined cases
  • Mortgage Prisoners
  • Interest Only customers with a viable exit strategy in place but without sufficient equity to refinance
  • Purpose of loan outside of standard criteria – we are able to accommodate capital release for most legal purposes
  • Ability to provide market leading rental solutions for your BTL customers – aggregated rental calculation at market leading rates available
  • No “cooling off” period of 14 days upfront which enables faster completion times and the ability to guide your client through the advice and application process
  • Minimal ERC’s applied to all products allowing flexibility for your customer
  • Fixed rate options are available
  • Most adverse credit positions considered

We will discuss all case sand provide you with the relevant ESIS comparison documents for your compliance purposes

To make an initial enquiry to the Sales Team please call or click here to submit an online agreement in principle request.

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