Brightstar launches into unsecured lending

DotBroker will be fully integrated into Brightstar’s sourcing system, EasySource. This enhancement to EasySource will allow intermediaries to search across multiple unsecured loan lenders, catering for clients with good and impaired credit. The loan results can be compared with a second charge mortgage sourcing result list where applicable.

If an unsecured loan is deemed the best solution for the client, EasySource will enable them to submit a single application to multiple lenders in one click.

All applications are managed on a referral basis, allowing the DotBroker team and their lender partners to manage the application right through to completion.

Unsecured products will range from loans for people with a prime credit rating to those with impaired credit. Rates will start at 3.5% APR and intermediaries can earn up to 6% of the value of the loan.

Rob Jupp, CEO of Brightstar, said: “Unsecured loans are vital financial tools that many intermediaries are asked about by their clients, but few have the opportunity of assisting, either because they do not know how to search and compare rates, or because until now there has been little or no commission available on an unsecured loan.

“Now Brightstar has made it possible for intermediaries to help their clients by searching for the best value loan on EasySource and comparing it to the cost of a second charge or remortgage. This innovation will bring real added value, both to intermediaries and their clients.”