Compliance tools

Secured Loan compliance tools and features

The embedded features of the Lenderquote sourcing platform support a compliant secured loan sales process

Whole market loan comparison tools
Not just by repayment - Compare or recommend loans based on:
  • Lowest monthly repayment
  • Lowest estimated cost of loan if settled early - includes fees, estimated ERC's and repayments made up to
  • Lender which typically offers the fastest & easiest payout and best ability to overcome problems
  • Lowest estimated redemption figure
  • Lowest estimated cost over full term including interest / fees / repayments
  • Lowest gross loan – Amount of credit at day one including fees
  • APR,

The lender panel represents whole market

A larger panel than any other secured loan sourcing platform

Term guide

Indicates if a cheaper rate is available over a different term due to affordability, age etc

Loan amount guide

Indicates if a cheaper rate is available over a different term – potentially borrow more but repay less.

Referral and subject to rules

Indicate where a loan may be accepted as a result of a small change in the application or a referral to a lender outside criteria. E.G. client has been working for 4 months and lender requires 6 months – prompts a discussion to hold back the application or refer.

Advanced filters

Near misses
Interest only / fixed rate options

Advanced underwriting

A better product is often available by disregarding the income of one borrower. For example if they are in a probation period, self employed. Check it out with 1 click

ERC calculators

Examples as required under the CCA or get specific estimates to an exact month

Record of research and quotations

Record of why a secured loan was offered rather than a remortgage or further advance
Record of why a particular loan product was offered
Record of the application data, chosen product, product features, filters applied
Record of other loans available but not chosen
Record of loans not available and reasons why

Compliance prompts

Remind brokers of important disclosures – borrowing into retirement, consolidating unsecured credit, affordability etc.