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What Makes Us Different?
finance for your customers
without the rip-offs
At Specialist Homeowner Finance we recognise the client is your customer, not ours! And we also recognise that you are our customer and you have the choice to place your business wherever you choose. That's why we work incredibly hard to ensure you are happy with our overall business proposition and the outcome for both you and your customer.
We ensure that we gather as much information as we can to ensure your customer is offered the correct product. This is something that only comes with extensive experience and is the first thing that sets us apart from so many of our competitors.
We do not charge up front fees on our secured and unsecured loan product ranges and only receive income when the loan successfully completes.
How secured loan brokers earn their money
Now that second charge secured loans often have no redemption penalties whatsoever if your customer settles their loan early, lenders cannot afford to pay away large commissions like they used to.
Therefore all companies that offer secured loans have to charge broker fees to cover these costs and make a profit. These fees are added to the loan advance and this can be an area where both you and your client can be well and truly ripped off.
We often see new secured loan brokers coming to the market with very little experience and no original ideas of how to market their products. They are usually ex-employees of established companies and see streets paved with secured loan gold, so what is the first thing they do? 'Let's pay 75% of our income to the introducer when the secured loan completes.' It sounds great, but you have to ask yourself
  1. how long will they be in business for - could you pay away 75% of your income and still run a business?
  2. will they go bust before I receive my next commission?
  3. are they lying to me about the income amount they receive and their processing costs?
  4. to make any kind of profit they will have to charge the maximum broker fee possible on every application. Clients being charged up to £10,000 or more will not be happy clients in the future.
In our experience once they have been trading a few months and realise that (a) is not sustainable, it's usually (c) followed soon after by (b)! Introducers will begin to leave them when they find out it's (d).
How some secured loan brokers rip off you and your client
50/50 Split Uncertainty Frog

With interest rates at an all time low and second charge secured loans being such a great alternative to a remortgage, we wanted to know why so many I.F.A.'s and Mortgage Brokers are still reluctant to offer secured loans as part of their product offering? From our market research, the vast majority said these are the main two reasons: -
  1. Secured Loan packagers are not totally up front as to what the commission split is. Saying they will pay a 50/50 split of the net income sounds good, but they never reveal the processing costs or what their income truly is. The commission split payable is often not given until just before loan completion - by that time it's too late to shop around.
  2. Some packagers offering product sourcing software are often charging extortionate completion fees and paying the introducer an unfairly low percentage of the income received. One large packager was charging completion fees of £7,495 and paying the introducer just over £2,000.
We have heard of secured loan brokers inflating the amount of processing costs just to squeeze a bit more income from their introducer. And we know of one broker (thankfully now retired from the industry) who allegedly went to the lengths of falsifying lender commission statements with a lower income, and would present these to his introducers when paying his '65/35' commission split.
With Specialist Homeowner Finance you will earn fantastic commission
without the rip-offs. Call the Secured Loan Specialists today
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IF YOUR CUSTOMER IS THINKING OF CONSOLIDATING EXISTING BORROWING, THEY SHOULD BE AWARE THAT THEY MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT THEY REPAY.

OUR REPRESENTATIVE INTEREST RATE IS 6.9% APRC VARIABLE. THIS MEANS 51% OF CUSTOMERS RECEIVE THIS RATE OR BETTER. WE RECOMMEND ALL CUSTOMERS OBTAIN INDEPENDENT LEGAL ADVICE BEFORE SIGNING ANY DOCUMENTS

ALL LOANS ARE SUBJECT TO STATUS AND ARE SECURED ON YOUR CUSTOMER'S HOME. WE ARE A BROKER, NOT A LENDER.

tel: 0800 810 1888   fax: 0800 810 1005    email: click here to contact us
address: Audley House, Northbridge Road, Berkhamsted, Hertfordshire, HP4 1EH
 
All telephone calls are recorded for training and compliance purposes. Specialist Homeowner Finance is a trading style of Specialist Financial Services Limited. Registered in England, No. 5309450. Registered office: 119 The Hub, 300 Kensal Road, London, W10 5BE. Specialist Financial Services Limited is authorised and regulated by the Financial Conduct Authority. Specialist Financial Services Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 676853. Specialist Financial Services and the Specialist Financial Services logo are trademarks of Specialist Financial Services Limited. The use of these trademarks is strictly restricted to our approved suppliers only. Any infringement of this will be vigorously pursued. This website is for professional intermediaries and introducers only, and is not intended for use by the general public. Reproduction of this website in whole or in part without permission is prohibited.
 
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