Secured Loan Brokerages & Loan Brokers
- Scotland
- North
- East Anglia
- Midlands
- South East
- South West
- Wales
- Northern Ireland
- Ireland
Secured Loan Brokers
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Tied Secured Loan Brokers:
In this instance the loan broker will offer loan solutions from one particular loan provider and will be unable to source from the entire loan market. -
Multi Tied Secured Loan Brokers:
An extension of the Tied Broker with the added flexibility to source loan products from a greater range of loan providers, but equally limited to the panel and unable to offer a solution outside the panel of approved lenders. -
Independent Secured Loan Brokers:
Truly independent meaning they can provide advice on many different types of loans from a wide variety of lenders in the loan market. Their ability to source the entire loan market, improves their ability to match the best loan deal to the applicants needs.
Successful loan applications will result in the loan broker receiving a fee or commission payable by the lender. The commission or fee may be paid to the loan broker for providing the lead or a completing a successful loan application. The ability to earn commission applies to the loan insurance as well.
Secured Loan brokers are licensed and regulated by the Office of Fair Trading (OFT) under the Consumer Credit Act.
Many loan brokers offer their services online. By completing the necessary online application forms which includes the amount they are looking to borrow. Online Loan Brokers will typically be able to react very quickly with a loan offer (often within the hour).
Some online loan application forms are for fact finding purposes whilst others are full loan applications involving credit checks on the loan applicant. As with any types of borrowing, the application process should be explained before this is entered into. Usually the lender contacts the applicant by telephone or email once the online application has been received to discuss the next stage.