Connect Mortgage Club to offer second charge BTL

Published on

LizSymsConnect

Connect Mortgage Club has added secured loans master broker The Loans Engine to its panel.

The deal will provide its members with access to second charge buy-to-let products.

Advisers will also be able to generate instant offers on their buy-to-let enquiries, without affecting their client’s credit file via The Loans Engine sourcing system.

Liz Syms (pictured), managing director at Connect Mortgage Club, said: “We have been using Loans Engine internally for some time and have found both their system and their service to be excellent.

“We are pleased to be able to launch this offering to our Network members to help them extend the range of products they are able to offer their clients with the comfort of knowing they are transacting the loans in a compliant way under the authorisations provided by the network.”

Steve Harness, commercial director at The Loans Engine, added: “Over the past year, the dynamics of buy-to-let lending has changed and in a bid to fill any gaps left by the mainstream lenders, the secured loans market has developed and streamlined a series of competitive products aimed at landlords and property investors.

“Securing a second charge loan on a rental property is an effective means of raising funds for a variety of reasons. It will allow landlords to make renovations to their property, adding significant value, or help raise the capital needed to place a deposit on another buy-to-let property and expand their portfolio. What’s more no personal income proof is required, as affordability can be calculated against rental income only and a secured loan will allow borrowers to raise money on their portfolio without disturbing their current mortgage arrangements.

“This partnership marks a significant step forward in our plans to expand in the current market and we look forward to working with Connect Mortgage Club and providing its members with more opportunities to provide solutions to their clients.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

West One reduces residential mortgage rates by up to 30bps and introduces £1,000 cashback remortgage product

Specialist lender West One Loans has implemented a series of rate reductions across its...

Household credit creeps up as lenders point to more optimism… but at a cost

British households are borrowing more – and lenders are increasingly willing to let them...

Newcastle cuts shared ownership rates by up to 55bps

Newcastle for Intermediaries has announced rate reductions of up to 55 basis point s...

Paragon Bank promotes Tim Sweetman to national account role

Paragon Bank has appointed Tim Sweetman as its new mortgages national account manager, marking...

Other news

West One reduces residential mortgage rates by up to 30bps and introduces £1,000 cashback remortgage product

Specialist lender West One Loans has implemented a series of rate reductions across its...

Household credit creeps up as lenders point to more optimism… but at a cost

British households are borrowing more – and lenders are increasingly willing to let them...

Newcastle cuts shared ownership rates by up to 55bps

Newcastle for Intermediaries has announced rate reductions of up to 55 basis point s...