Secured Loans Titbits #4
Money Partners, the secured loan specialists, have recruited Paul Lipton-Rose as head of sales. Paul Lipton-Rose formerly worked for another secured loans specialist Southern Pacific Mortgages Ltd. In this newly-created position, Lipton-Rose will take a leading role in the structured expansion of Money Partners’ intermediary distribution by developing new relationship opportunities to complement existing broker and packager partnerships.
On another front, Money Partners has launched an electronic identification facility to its supporting brokers and packagers. e-ID is an enhanced credit search engine based on Equifax technology. Available via the specialist lender’s intermediary website, MoneyPort, it reduces significantly the need for paper-based client identification evidence required under ‘Know Your Customer’ rules. Money Partners carried out a full-length test of the facility during August in which 6,000 e-ID searches were made.
The use of these tools to identify customers is on the rise and one imagines some consolidation or the development of some generic tools to be used across the board.
I’m might delve into this one in more detail later, but another piece of news is that Barclays, via Barclays Private Equity, is about to take a 30% stake in Blemain. Blemain Group comprises of three businesses – Cheshire Mortgage Corporation, which specialises in first charge non-conforming mortgages and bridging finance; Lancashire Mortgage Corporation, which deals with commercial finance, and Blemain Finance, which provides secured loans.
