There are many reasons why brokers and IFAs should consider using a master broker to help them with their second charge cases. Since MCD, the role of the master broker has grown and we can now assist in even more ways, including compliant documents, improved processes, sourcing systems, expert underwriting and our access to a large network of specialist and mainstream lenders.
In fact a recent poll conducted by Loan Talk, found that 90% of respondents believed that master brokers convert more business than brokers going direct.
The reasons for this are our expertise in dealing with specialist lenders and understanding their criteria to be able to identify the most appropriate product for the customer in a timely and accurate fashion, whether debt consolidation, home improvements or exiting a debt management plan. We are also flexible when it comes to working with brokers or IFAs who are directly authorised or want us to offer the advice to the client. We can work with either route and package the case for the lender too. Whether directly authorised or not, we can take as little or as much work away from the introducer as they require, by completely looking after the client and offering the full advice, or simply by packaging the product that the introducer has recommended.
In a nutshell, we have more strings to our bow across a wider range of products and can help with more types of cases, from straightforward to complex, to help brokers and lenders complete more business. This also has an impact on a brokers’ income too. With us, introducers are paid 50% of all net generated income, meaning that they can earn extra income, while the client gets a far wider selection of options. With excellent service standards we can also take the strain away from complex cases and underwrite each one individually to reach a positive conclusion.
We have spent a lot of time with brokers explaining that second charges are a real alternative to re-mortgages and other forms of finance. The reaction is invariably extremely positive and many of these brokers are now referring regular business to us, including complex cases and those where the credit profile of the client means they are denied mainstream finance. The role of the master broker is not only here to stay, but will continue to grow and become the preferred option for most brokers and IFAs for placing second charge cases.
“As a master broker providing specialist lending solutions, Clever Lending has a solid understanding of the marketplace, which enables them to identify the right lender for each case. Here at Together, we know we can trust them to deliver well-packaged cases, and to work with us to achieve the best possible outcome for the customer.”
Laleta Buctkuar, Key Account Manager, Together
“Clever Lending are professional in everything they do their proposition is tailored around doing the right thing for both brokers and clients. This proposition is supported by great people and service excellence.”
Darrell Walker, Head of Sales – Second Charge & Commercial Lending, OneSavings Bank
“Fantastic service, their knowledge is second to none, always call back and updates are easy.”
Lucie Wade, Wade Finance Ltd