Second Charges without the packager fees? Now that’s something to celebrate! In response to the needs of Regulated Mortgage Brokers who are unhappy with the massive fees being charged by some packagers, the Loan Processing Centre launched a whole-of-market second charge offering, with no packaging or broker fees whatsoever charged to the customer. • Whole of market offering – LPC deals directly with 19 second charge providers; • Quotations provided by our LoanQuote™ second charge sourcing system, designed and updated by people who know second charges inside out; • We do not contact your customer – you provide the advice and retain full control; • Your customer only pays for the property valuation, mortgage references, second charge consent and legal searches in Scotland/Northern Ireland; • Average of 23 years experience in our second charge department; • No Mortgage Club deductions made from your income; • Your income is paid to you directly on the day of completion. Our process will always be cheaper for your customer and allows you to not only control the application from start to finish, but also control your income. Want to know more? call 0800 810 1777 Why is LPC so much better for both you and your client? This is how LPC compares to the competition for a customer with a property worth £300,000, an interest only mortgage of £120,000 on a tracker rate of 1.49%, income of £41,000 p.a. and no credit issues. Wants a variable rate loan of £40,000 over 20 years for home improvements. Packager 1 best product - Monthly repayment of £262.94, annual rate of 3.65% and an APRC of 5.2%. Packager fee of £3,995 and a lender completion fee of £350. You earn £1,439. Packager 2 best product - Monthly repayment of £264.71, annual rate of 3.65% and an APRC of 5.2%. Packager fee of £4,000 and a lender completion fee of £495. Sourcing system only gives one packager option. You earn £1,600. LPC – best product option 1 - Monthly repayment of £248.86, annual rate of 3.65% and an APRC of 4.4%. No packager fee charged and a lender completion fee of £350. You can charge a fee of up to £4,000, but you decide to charge the client £1,600 on completion, earning the same as you would with Packager 2 and £161 more than you would with Packager 1. LPC – best product option 2 - Monthly repayment of £242.37, annual rate of 3.65% and an APRC of 4.1%. No packager fee charged and a lender completion fee of £350. You can charge a fee of up to £4,000, but decide to only charge the client £495 on completion. Lower fees and repayments, more control, happier customers, more repeat business. All telephone calls are recorded for training and compliance purposes. The Loan Processing Centre is a trading style of Specialist Financial Services Limited, Company Registration Number 5271214 in England. Registered office 119 The Hub, 300 Kensal Road, London W10 5BE. Specialist Financial Services Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 676853. The Loan Processing Centre logo is a registered trademark of Specialist Financial Services Limited. Reproduction of this website in whole or in part without permission is prohibited. The Loan Processing Centre, Audley House, Northbridge Road, Berkhamsted, Hertfordshire, HP4 1EH. The Loan Processing Centre © 2018. All rights reserved. All quotes obtained online in January 2018.
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