Y3S Loans is due to launch a smartphone and tablet application version of its miLoan sourcing system for finance intermediaries.

The miLoan app will be available to download from Apple’s App Store in February for its 4700 registered users.

According to developers at Y3S, this will be the first mobile app that allows users to generate instant personalised secured loan quotations from the UK’s secured lenders, and send them direct to their account manager for processing.

Once a loan has been submitted through the app, users will be informed of progress via SMS and email. They will be able to use the application to track the case status in real-time with full access to underwriters notes, a staff contact directory and provide service feedback at any time.

Matt Cottle, miLoan project director, said: “As the most user-requested development, providing our broker users with mobile access to miLoan was the obvious next step for us to undertake.

“We are pleased to be the first broker to bring a secured loan sourcing app to intermediaries, but this is just the start; we have many more developments in the pipeline, including a bridging loan module and versions for iPad, and Android devices.

“Soon, 5000 mortgage brokers will have a user account; the miLoan app is the perfect complimentary product to help them earn additional revenue through secured loans.”