The Lending Wizard platform allows brokers to gather accurate quotes for client loans, based on that client’s individual circumstances, and without risking damage to their credit score.
Darrell Walker, head of intermediary at The Lending Wizard, said: “The new website offers a clear proposition that gives accurate, tailored information to intermediaries, as well as helping them to meet all the obligations to their customers.
“We’ve also found a high level of demand from brokers for the option of taking the hands-off approach to loan completion, and the new website makes this process quick and easy.
“Advisers can often be hesitant about considering secured and unsecured loans as the process is less common, and the loans are outside of their most familiar product range.
“However, with all forms of personal loan now regulated by the FCA, they are not only a mainstream financial resource, but advisers are obliged to consider them in order to ensure they are offering the best product to the customer.
“It is our hope that this new website will help to close the current gap, and emphasise the value of different types of loan as the most suitable product for clients in varying personal situations.”
The new online proposition offers brokers two options for sourcing client loans. The first “advised” route allows the broker to retain control of the entire end-to-end process, whilst the second “non advised” route takes the hassle out of their hands, and the process is managed by The Lending Wizard.
Under the new website, brokers will be able to access all the information they need – including accurate Agreement in Principles of loan costs based on individual borrower criteria – very quickly, as well as the documentation needed to demonstrate maximum regulatory compliance.
