Freedom Lending has already announced it will be offering a secured loans sourcing system in early 2007 and Trigold’s move would further enhance the reputation the market.
An unnamed source said: “Trigold will be launching a secured loans section at the start of next year. Secured loans are one of the next big things in the market and everyone has been looking at ways to make the process quicker and as easy for intermediaries as sourcing normal residential mortgage products.”
Bob Sturges, director of communications at Money Partners, confirmed his company had been in talks with Trigold for some time about setting up a secured loans sourcing system, and he believed the move would be of massive benefit to the market.
“We are seeing an explosion of interest in secured loans from intermediaries and also lenders. There are obvious similarities but also stark differences to mainstream mortgage products so intermediaries now coming into the market need help in sourcing the right product – the one that is most appropriate for their client.”
Bill Safran, CEO of Trigold, said secured loans were certainly an area of interest for his firm. “Secured loans are growing rapidly and we are exploring ways of bringing secured loans onto the desktops of brokers.”
