Meet Paul Zammit of The Loans Engine
Tell us a bit about your business.
The Loans Engine is a highly rated specialist finance broker, helping intermediaries and mortgage brokers throughout the UK find alternative borrowing solutions for clients.
We start where the high street stops, which means we can help even if your clients have been declined elsewhere.
We have a wide range of borrowing options available including second charge mortgages, specialist residential mortgages, bridging loans, commercial and semi-commercial mortgages, development finance and complex buy to let mortgages.
So, we offer a one-stop shop to compare a range of finance products for your clients.
Where are you based and where do you operate geographically?
Our office is based in Watford (Hertfordshire) and so am I, but we also serve brokers and clients across the whole of the UK.
What are the main issues impacting your local market?
Rising interest rates and high living costs are the biggest areas that have impacted the industry over the last few months.
Luckily, our close lender relationships have meant we have been able to successfully navigate this uncertain time, whilst continuing to deliver great customer outcomes.
What challenges are you facing as a broker?
The industry is continuously evolving, with changing consumer duty rules, lender criteria changes and fluctuations in the Bank of England base rate to name a few.
Being able to adapt quickly to changing circumstances is therefore particularly important in the current climate, and thankfully we’ve been able to do this well!
What are the main opportunities for brokers in your area and nationally?
Rising living costs are putting pressure on many people, leaving them financially stretched and some unable to meet monthly credit commitments.
Many clients have therefore started looking for ways to streamline their finances or reduce their monthly outgoings.
One method that can be used is consolidating debts into one single monthly repayment through a second charge mortgage.
We have already seen an increase in clients looking to consolidate debts, and we anticipate this trend will continue throughout the rest of 2023.
What could lenders do to help further your business?
We carefully select the lenders we work with to ensure they align with our core values and high standard of service.
We work very closely with our lender partners to ensure we mutually deliver an exceptional service to each and every client.
Our Feefo reviews regularly note the fantastic experience both the mortgage intermediary and end client had whilst dealing with our team and our lenders.
Therefore, the only comment we have to our lenders is keep doing what you are doing!
What sets you apart from the competition?
Our bespoke, specialist finance sourcing and CRM tool Nexus.
Nexus delivers what many specialist brokers struggle with – accurate identification of viable lenders, fast identification of lowest cost options comparing the entire range of lenders and products, and delivering fast sourcing and decisions via API links to the lender panel.
Using Nexus means we can accurately source the very best product each customer qualifies for, underwritten to their requirements and circumstances.
How should potential borrowers contact you?
You can contact us by email, phone or by chatting online with our experts. All we need is the name and number of your client and we will handle everything else on your behalf, leaving you to focus on your core business.
