Positive Lending, the multi-award winning specialist packager, today announces that it has more than doubled its second charge mortgage completions since the launch of its new fee structure. The packager credits this surge in business to its market-leading, transparent packaging fee proposition which charges a flat £995 for residential second charge mortgages and allows the advising broker to retain 100% of the procuration fee and any broker fee.
Paul McGonigle, Chairman at Positive Lending commented;
“Earlier this year Positive Lending launched a fresh approach for second charge mortgages and the response has been fantastic. Our intermediary partners tell us that they appreciate the transparency of our fee structure and, more importantly, that our proposition means they can ensure the very best and most cost effective loan outcome for their clients.
With so many packagers insisting on more complex and expensive second charge fee structures, we’ve attracted many new intermediary relationships due to our transparent and fair offering. Positive Lending charge a flat £995 packager fee for all DA advised residential secured loans. The intermediary receives 100% of the proc fee plus they can charge and retain 100% of any broker fee. We provide access to a whole of market second charge lender panel, including exclusive and semi-exclusive loan plans, either via our 360 loan sourcing and case tracking system or via direct access to our expert lending team.”
“As we said back in May this year, Positive Lending believes in fairness and transparency, we don’t believe the customer should be charged larger fees for larger loans. Now our revolutionary proposition has been tested and the reaction is overwhelming; we have more than doubled our second charge mortgage completions since the launch of our £995 fee earlier in the year. Intermediaries interested in learning more about our proposition should call our Broker Support Team on 01202 850 830 who can talk them through the process and register them for 360 loan sourcing.