Promise Solutions picked up the award for second charge packager of 2014 at the recent strategy and awards day held by Precise Mortgages.
Steve Walker (pictured), managing director of Promise, said: “90% of the Precise Mortgages’ second charge loans handled by our processing team ultimately go to completion and 85% of these start and finish with Precise Mortgages. This is a phenomenally high conversion rate and significantly higher than other lenders in a similar space.
“We are really delighted to win this award and hope that awards such as this raise the profile of secured second charge loans with any mortgage broker or network which has not yet got to grips with second charges. For any broker focussed on demonstrating best outcomes for his/her clients, the second charge product range from Precise Mortgages is impossible to ignore.”
Alan Cleary, managing director of Precise Mortgages, added: “Over the past year the team at Promise have embraced Precise Mortgages’ second charge proposition and have demonstrated their professionalism within this sector.
“We are delighted with the partnership formed with Promise and recognise this by awarding them the second charge packager of the Year Award. The team consistently produce high quality business with an excellent conversion rate.”
Walker added: “Promise prides itself on offering the widest choice of second charge lenders and when it comes to achieving good outcomes for borrowers and high conversion rates Precise Mortgages have set the standard for other lenders to follow.
“Its stance on affordability and using industry standards means that we know where we stand on a deal from the outset and once loan applications start their life with Precise Mortgages, there is now an expectation that the conversion rates will be the highest.”
