Equifinance - expansion of underwriting resource pays dividends

18 March 2020

With second charge activity increasing for the 15th consecutive month according to FLA figures, specialist second charge lender, Equifinance, is strengthening its underwriting and administration facilities as new business enquiries continue to grow.

The new move complements the new origination system from BEP Systems in which the company invested in August 2019 and the five year agreement with Phoebus Software to utilise the Phoebus mortgage servicing platform to provide primary servicing and arrears management functionality.

According to Equifinance Managing Director, Tony Marshall, cases are taking at least an hour less to process and new product development and launch are made much easier and quicker.

He said, “The second charge sector is always urging advisers to include second charge options in their advice process. However, it is up to us to make sure that the user experience is the best it can be. The investment we have made, both in personnel and technology, underlines our commitment to the sector and the quest to provide the best service in the market.”

Tony continued, “Equifinance has made its name as a lender which treats every enquiry on its merits by refusing to pigeonhole potential borrowers into rigid boxes. However, if we cannot back up our proposition with a fast consistent service, the value is wasted. Our investment in IT and personnel along with our commitment to the intermediary community are already paying dividends as brokers experience the value we offer not only through our underwriting stance but also our ability to deliver the service to go with it.”