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TENET LAUNCHES SECOND CHARGE PANEL

07 November 2016

Tenet has today launched a direct to lender second charge panel, initially comprising the following five lenders:

Masthaven Secured Loans
Precise Mortgages
Paragon Personal Finance
Shawbrook Bank
Step One Finance

This offers advisers the option to go direct to the lenders on panel, giving them more control over the advice process and customer journey.

To facilitate sourcing for the direct panel, Tenet has worked with existing partner, Mortgage Brain, to develop TenetLoansBrain, a bespoke version of the LoansBrain secured loans sourcing website. This will be available to members free of charge.

Tenet supported firms to retain their independent status under the Mortgage Credit Directive (MCD) and approximately 70 percent of firms affected have chosen this option post-MCD, with the expectation that this figure may now increase.

TenetLime managing director, Gemma Harle, comments:

“We hope that the launch of our direct to lender second charge panel will bring some real competition into the second charge market, making second charge a more cost effective option for our advisers to consider when their customer is considering a remortgage with capital raising or a further advance.”