Mortgage Brain has claimed that LoansBrain, its new secured loans sourcing system, has seen over 1,000 brokers and financial advisers using it during the first few weeks since its launch.

The new online system enables brokers to source a range of products from leading secured loan lenders. It also allows brokers to choose to advise clients on the best products available, or to simply forward a client’s details to a master broker who will then manage the advice and application process.

Mark Lofthouse, CEO of Mortgage Brain, said: “We’re delighted with the initial feedback and response to our new second charge sourcing system.

“With the new regulatory requirements now in effect and the market continuing to change like it is, it’s more important than ever that mortgage brokers remain competitive and are in the best position to meet their customer’s needs.

“The launch of LoansBrain is another example of our support, commitment and dedication to the UK mortgage broker market.”