Making A Success Of Secured Loans. Providing intermediaries with the tools

Transcription

1 Making A Success Of Secured Loans Providing intermediaries with the tools

2 Understanding the every need of intermediaries is exactly what sets needaloan.co.uk apart from the competition! Transparency of our processes retains the loyalty of our introducers, with fast turnaround of applications and quick commission payouts. Our state of the art IT system ensures the accuracy of our advice and our practices are of the highest standards, which are the envy of many within the industry. We never rest on our laurels however, and always put the intermediary at the top of our priority list and are always willing to shape and adapt to suit your own needs, wants and requirements. Tom Wilson Needaloan.co.uk Managing Director The Simple Process... Refer your clients details to us by phone, fax or via our introducer portal at We undertake all paperwork and deal directly with your client and keep you informed in all cases should you wish Commissions are paid by BACS or cheque every week

3 The Quick Glance Guide To Recommending A Secured Loan A secured loan can often be the best option for your client when they need to raise finance as opposed to a remortgage, further advance or unsecured loan. Ideal Applicants That Fit A Secured Loan Include Some Of The Following Criteria: Substantial early repayment charges on existing mortgage Consolidation of Credit Cards, overdrafts and other associated debts Need to get funds fast Would like to borrow up to 125% of the property value May have a history of CCJ's, defaults and mortgage arrears Self employed may not have up to date accounts Require NO UP FRONT FEES Have been declined a further advance by existing mortgage lender Commissions & Fees Deductable costs: Processing Telephone Costs Processing Wages BSQ Costs 3rd Party Costs (Equifax, Coal Authority, Land Registry). Stationary Admin Costs (Payments, Management, Criteria Updates, Banking, Marketing). Valuation Costs Total cost to process a case through to completion 395 Profit Share Calculation: Total Commission 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Deductable Cost Available to Split 50: ,105 1,605 2,105 2,605 3,105 3,605 Your Commission At 50% , , , ,802.50

4 Why Intermediaries Choose Us... Tom Wilson Managing Director Darren Grace Director Jaxon Stevens Broker Account Manager Alan Shaw Senior Sales Advisor Paolo Necchi Senior Sales Advisor Hazel Corry Senior Underwriter Briony Wells Senior Underwriter Carly Wilson Senior Underwriter Needaloan.co.uk was started by mortgage brokers for mortgage brokers, so we fully understand what you require from a secured loan broker. We understand that as you grow, we grow and a long term partnership is the key to success. Reliability, assurance of practise, continual research and development of staff maintains a level of service you would expect for a reputable company that can be summed up by our core values. Trust We never lose sight of the fact that they are your clients. You are in control of how we approach your clients, either directly or via yourselves. We will always treat your clients as you would treat them yourselves. Service We will appoint your very own Account Manager at the start of our relationship to look after all of your applications and provide you with regular updates. Transparency Our commission structure is both generous and easy to understand. We split the commission (and broker fees) straight down the middle, 50:50, subject to a small deduction of 395 to cover processing costs. Things don t come any clearer than that.

5 Benefits At A Glance Dedicated Account Manger Online Marketing Tools & 24hr Case Tracker Vast Choice of Lenders Case submission by Phone, Fax, or On-line Commissions Paid Weekly Transparent Commission Structure You Retain The Client, NOT US! What Our Intermediaries Have To Say About Us: I have always found Needaloan.co.uk to be very helpful and efficient. It is usually just the case of me passing on a client s name and telephone number, leaving them to do the rest. As a busy broker, this is the sort of service I really appreciate. Andrew Parkinson from Bright Mortgage Advice, Cambridgeshire I have used the team at Needaloan.co.uk for over 2 years now to package and deal with all of my second charges. I have found their service to be nothing less than exemplary on every occasion. I have absolute confidence when I pass over my client that they will be offered the same level of service that they would get from dealing directly with me. I consider needaloan.co.uk an integral part of my portfolio of products and services Ian Cook from Positive Mortgages, Hampshire Secured Loans can be a minefield. Its nice to pass a deal knowing you will always get the business, always receive payment and customers are always happy. Jonathan Lewis from Complete Mortgage Centre, Slough We can trust Needaloan.co.uk to treat customers as we would treat them ourselves. They work harder to ensure a high level of service and are always friendly to deal with. Mark Canning from Penny Lane, Glasgow ADS believe that speed and efficiency are key to being a successful company. Using Needaloan.co.uk enables us to offer our clients with bespoke products and solutions that match their needs. Simon Harrison from ADS Mortgage & Financial Planning, Kent

6 Frequently Asked Questions What do I need to do once a client is referred? You can have as much or as little involvement as you wish. We can send the paperwork to you so you can speak to your clients or you can supply us with a name and telephone number and we will do all the work. Are secured loans regulated? Secured loans under 25,000 are regulated by the Consumer Credit Act. Secured loans are not regulated by the FSA, but may well be in the future. Needaloan.co.uk is directly authorised by the FSA for the sale of Payment Protection Insurance (PPI). How do I know how my cases are progressing? Our new 24hr Case Tracker will allow you to obtain updates whenever you require them, in addition to this your dedicated account manager will keep you informed by phone, fax or . We feel it is important you have a fixed point of contact on whom you can rely and trust! Can I still sell my own insurance? We have to consider Payment protection as part of the secured loan process. If we are advised that you will be arranging the life and ASU needs of your client independently then we will respect your wishes. "We always remember they are your clients and not ours!" How do I become an introducer to Needaloan.co.uk? Its easy! Register on-line at Get Involved! To register your interest or submit an enquiry visit: FREEPHONE: or broker@needaloan.co.uk 2 Hartcran House, Gibbs Couch, Watford, Herts. WD19 5EZ This brochure is for intermediary use only and, therefore, is for your internal use only it is not a Consumer Credit Act Advertisement