setting up unsecured loan brokerage

[helpinhand]

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hello just interested in peoples views,

i introduce to some large finance brokers but think i might aswell go straight to lender myself to reap all the commissions.

i know that some lenders like mida, blackhorse and welcome do unsecured loans, is it going to be worth my while in your opinion? ringing and taking apps and submitting to lenders myself or shall i just stick as i am and let other people do the work for me ?

just of interest

[123debtsolutions]

Get a brokerage and get them passed yourself.
It's the next move up the ladder and closer to the honey pot.

You need to weigh up the admin and costs but for some this is only a small step from their current business model.

In some cases they don't even need to call to take the app.... You can use online case tracking portals and credit checks and everything can be done online direct to the lender... With good techies and hard work you could do some good volume...

Just my thoughts. Would be keen to spk if you do decide to move forward.

[abc]

The conversions are really low on USL..

I know a company thats a Master Broker for USL applications who you apply through them but it goes direct to the black horse, halifax and Everyday loans..

u get commission 1% halifax 3% black horse and 4% everyday loans..

might be the next step to test the waters

we can do a swap of info u still getting dirt cheap Adverse Remo leads!! were they any good?

PM me..

Rick

[JSTloans]

We offer this service to a number of brokers, they pass their applications direct through JST’s panel of lenders. This is facilitated by using our web service, which you pass the required fields through and each morning at 8.30am, you will be forwarded a status report, which you can upload into your own system to report back to your clients.

The web service can be branded with your own company logos, so each application can be chased through to completion by SMS, e-mail and call centre, from the lenders status codes. The lenders status codes are loaded each day automatically and using a simple template with your company logos will be chased through to completion.

Dependant on the details reported on the application, our CRM will underwrite to each lender in its panel in turn. Each lender reports back in real time the status of the application, then the status code will determine if the applicant is referred to the next lender in line.

You will be rewarded with 2-5% (dependant on volume) of the total lending through your account from each lender, which includes Welcome, Black Horse, Halifax, and JST Financial's own loan book.

Average broker commission is 4% from outside lenders and we pay 2% if it is wrote to our own book. However the minimum volume is 50 leads per working day.