Tenet launches direct to lender second charge panel
Tenet has today launched a direct to lender second charge panel, with five initial lenders including Masthaven Secured Loans, Precise Mortgages, Paragon Personal Finance, Shawbrook Bank and Step One Finance.
"We hope that the launch of our direct to lender second charge panel will bring some real competition into the second charge market"
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 which will be available to members free of charge.
Tenet says that approximately 70% of firms affected chose to retain their independent status post-MCD and expects this figure to increase further.
TenetLime managing director, Gemma Harle, commented: “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.”
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