Fees Free Packaging Launched by Brilliant Solutions
20 July 2017
Brilliant Solutions has announced that it has removed any and all packaging fees across its entire mortgage packaging range following the completion of a successful trial with a handful of lenders.
Brilliant Solutions, the direct to lender mortgage club and specialist packaging business, has today announced that it will no longer be charging any packaging fees. This latest proposition development has completely removed all fees whether before or after application or completion. It removes any and all cost barriers to using a mortgage packager.
The company made the switch following a user experience review which supported the broker perspective that not only were fees a major sticking point in terms of client costs, they were also a process sticking point.
Matthew Arena, Managing Director at Brilliant Solutions said: “Ultimately we are here to offer a service to the customer so we must make it as easy as possible for mortgage advisers to use our services and remove any barriers to use, be they perceived, financial or service barriers. This is just one in a long chain of changes that has seen our packaging proposition evolve for the better of brokers and their clients.”
The fees free decision was made following a trial period with a small number of lenders and it was met with a significant amount of positivity from the broker community. Prior to the removal of any and all fees, brokers faced the difficulty of reporting back to clients the presence of these additional charges and the clients themselves were paying more for using that channel. This will still be the case where fees are still charged.
“The removal of fees and the availability of our direct to lender mortgage club submission options means that we are offering our packaged channel on a superior service or superior product basis, with no client detriment. That is the way it should be. The market now allows us to do that and we are pleased to be one of the first to make this leap.”
