Specialist mortgage and packager club Brilliant Solutions has launched a secured loans brokerage firm, Brilliant Loans, following a successful pilot project.
It was set up with the aim of improving brokers’ offerings in the secondary fees sector and offering more personalized support to advisors.
The firm will advise you on secured loan products, which include all forms of second charge and equitable charges where there is no first charge.
The five-person team is led by Lee Parkin, who has worked with Brilliant Solutions since 2016.
He will accept referrals from qualified mortgage advisers who have considered prime 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 was started to “deliver better results for clients” by aligning the secured lending process with existing qualified mortgage advisers, which it says doesn’t always happen in today’s market.
The company will use a “low and transparent fee structure” and the larger group, Brilliant Group, will be able to offer alternative second-charge options for advisors through its packaging and club channel.
Matthew Arena (illustrated), Managing Director of Brilliant Group, said, “The secured lending market is a fantastic opportunity for mortgage advisors to add real value to their clients, but advisors are rarely satisfied with recommending their clients.
“Brilliant Loans’ new proposition gives mortgage advisors the convenience they need, and the process and fee structure are as simple and user-friendly as possible. This will certainly translate into better results for clients and a broader product offering for the brokers involved.
He added: “The opportunity to recruit experienced staff in this area 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 advisors, but it is backed by significant software expertise and investment.