Y3S Loans says 500 brokers have registered for its secured loan sourcing system – miLoan broker – since its launch a fortnight ago.

MiLoan broker was developed for mortgage brokers and IFAs to easily compare the cost of a secured loan with a remortgage, with users then able to submit their quotations for processing if they like what they see.

Matt Cottle, project director of miLoan, said: “We are over the moon with the way the launch has been received. Our registered users have already generated in excess of £20 million of secured loan quotes. Brokers like our simple-to-navigate system and are embracing miLoan for its transparency and its generous and flexible commission structure.