Finance broker The Loans Engine has launched an advice service for specialist residential mortgage cases.
It says the new service allows UK mortgage brokers to access the firm’s specialist residential mortgage panel using its packaging service.
Brokers are also able to refer cases to the company where it will fact find, source, advise and recommend, and package the mortgage through to completion.
The broker firm’s specialist residential mortgage panel primarily assists mortgage intermediaries with cases that have been declined by high street lenders.
These reasons include adverse credit, low credit scores, county court judgements, defaults, secured arrears and maximum borrowing age restrictions.
The panel also considers other income streams such as variable pay elements, day rate workers and workers who have been self-employed for less than two years.
The firm offers finance options for remortgages, purchase mortgages, Right to Buy, shared ownership and first-time buyers, although no FTB schemes are supported.
It adds it will also continue to offer a packaging option for its range of specialist first-charge mortgages, which includes such lenders as United Trust Bank and Together.
The Loans Engine chief executive Ryan McGrath says: “We feel strongly that a key facet of being a true specialist finance broker is providing the full service, including mortgage advice.
“That’s why we never dissuade or deter brokers from using our referral service.
“Some firms opt to charge additional ‘advice fees’ or lower the share of earnings paid to the Intermediary – this is never the case with TLE. That approach will continue with this new service. ”
