Indeed 4 out of 5 users of the sourcing system consider secured loans to be a positive for clients in a range of circumstances.
The survey asked Trigold users to complete the sentence “Secured Loans are…” which was met with a variety of responses.
Over half (58 per cent) said that secured loans were ‘good for clients who need to raise funds but for whom remortgaging is too expensive.’
Furthermore, 16 per cent said secured loans were ‘a good way to provide temporary finance’, with 7 per cent recognising them as ‘good for clients who need cash in a hurry.'
On the more pessimistic side, 19 per cent viewed Secured Loans as ‘the last resort.'
“Secured loans have risen in prominence over the past year and this result demonstrates a heightened level of awareness of the variety of ways in which secured loans are the right product for a client," said David Thompson, sales director at Trigold.
"We don’t dictate which lender or master broker is used or which route advisors take to get to them but what we are doing is bringing these products and this proposition directly onto the desktop of our users.”
