Personal Touch Financial Services has added packager and master broker Promise Solutions to its panel to provide second charge loans.
Under the Mortgage Credit Directive which came into play on March 21 mortgage brokers are required to inform clients looking to raise capital that a second charge loan could be a suitable option. Those advisers who choose to refer second charge clients to a master broker rather than offer advice directly will lose their independent status. Appointed representatives of Personal Touch will be offering second charge products on a fully advised basis.
Steve Walker, managing director of Promise Solutions, said: “Personal Touch has set itself apart from other networks by recognising the huge opportunity on offer in selling seconds and upskilling its members to enable them to sell directly rather than choosing the referral route.
“At Promise we have been offering a secured loan packaging facility for over five years. This, combined with our larger panel, bespoke technology and 30 years’ experience in the second charge sector, means we are perfectly placed to help ARs of Personal Touch find the perfect second charge solution for their clients.”
Vikki Jefferies, mortgage proposition manager at Personal Touch, added: “Promise Solutions offers a wide panel of lenders which provides a fantastic selection of solutions for customers, allowing our advisers to maintain their independent status and offer a market leading proposition.”