The referral-only service will enable introducers who are either not regulated, have more business than they can handle or whose consumer credit permissions have lapsed to refer cases and benefit from competitive rates of commission.
Introducer appointed representatives (IARs) can refer commercial loans, non-regulated buy-to-let and bridging deals, and second charge loans to TFC.
TFC managing director Nigel Payne said: “This is no-brainer for those introducers who have business they can’t deal with, either because they are too busy, it’s outside of their knowledge base, or they don’t have the relevant authorisation.”
Introducers simply refer a few basic client details to TFC Homeloans, which will handle the whole case, and pay 50% of the commission after costs on completion. The broker doesn’t have to do a thing after making the referral.
Payne added: “We know there is a demand for this service. Many brokers are aware that they need to consider second charge lending from 16 March 2016 but don’t feel confident about arranging these deals. Others just want to focus on straightforward cases. We can help following a simple referral.”
