Y3S is to hold a ‘Dragons Den’ style interview process to find two people to run a new second charge loan brokerage that will be part of its group of companies.

The successful candidates will be given a salary, directorship and a shareholding in the business which is already set up to trade with all relevant licenses and has a landing slot for full FCA authorisation.

Matt Cottle (pictured), group director at the Cardiff-based firm, said: “We want to find two young people who see themselves as the next big thing and offer them an opportunity to prove themselves.

“It’s pretty much impossible to enter the market as a new start-up right now as we are in the interim period of transfer of regulatory powers from the OFT to the FCA; getting a license to trade is unlikely to happen for a long while. The unknown cost of compliance will be a huge entry barrier for future brokers but our new business owners will have the full support of the Y3S Group behind them.

“They will receive business support such as mentoring, marketing, compliance, systems, IT, recruitment, accountancy and banking to allow them to run a smooth operation. We have a separate office in Cardiff Bay close to our HQ, all ready to go.”

Barney Drake, group director of operations, added: “”For those who think they have what it takes to run the next Y3S business, then they should apply, but there is only one opportunity available for two people so they should choose each other wisely.

“They should both have a track record of processing secured loans, providing the highest level of customer service together and be able to demonstrate their entrepreneurialism. Those that don’t have these qualities needn’t apply.”

Y3S is accepting applications from potential candidates now.