Intermediaries will be able to bid for leads through the brand’s eBay-style model and brokers are advised of the source of each lead and the current cost, before deciding how much they wish to pay for each one.
Vanessa Blount, head of paaleads.com, said the current lead market is extremely buoyant.
She added: “With rising consumer debt and the increase in consolidation loans, IVAs and bankruptcy, consumers will be seeking financial advice on the secured loan market in greater levels than ever seen before.
“With the added rise in the use of the internet to source the best deal, advisers shouldn’t miss out on the opportunity that secured loan leads offer the business.”
Blount said this is the start of a new strategy to expand into lead sourcing for other areas of financial services.
She explained: “At paaleads.com, we are continually looking at different lead types to expand into and feel that secured loan leads have great synergies with our existing lead types.
“We are excited to launch into this new market and expect to continue our lead type expansions throughout 2007.”
In addition to clearly seeing the source of each lead, brokers will be able to see every bid that has gone so far, from the highest to the lowest.
Users do not need to register with the site to see the lead types available or the bids on offer – it allows anyone to see any bid at any time.
The leads are broken down into 614 different territories in four different sizes – 462 local territories – each with approximately 70,000 households. All leads are dispatched to intermediaries within one minute of the prospective customers leaving their contact details on the website.
