Brightstar will launch into unsecured lending by teaming up with digital intermediary platform DotBroker on 15 November.
DotBroker will integrate with Brightstar’s sourcing system, EasySource, which will allow clients to search across multiple unsecured loan lenders, catering for clients with good and impaired credit.
If an unsecured loan is deemed the best solution for the client, EasySource will enable them to submit a single application to multiple lenders in one click.
Rob Jupp, chief executive of Brightstar, said: “Unsecured loans are vital financial tools that many intermediaries are asked about by their clients, but few have the opportunity of assisting, either because they do not know how to search and compare rates, or because until now there has been little or no commission available on an unsecured loan.
“Now Brightstar has made it possible for intermediaries to help their clients by searching for the best value loan on EasySource and comparing it to the cost of a second charge or remortgage. This innovation will bring real added value, both to intermediaries and their clients.”
Ray Bohringer, chief executive at The Financial Media Group, parent of DotBroker, said: “This alignment is great news for us because Brightstar has an enormous reach to a very diverse group of intermediaries.
“There has been a lot of industry discussion focusing on best advice, we feel an unsecured offering is therefore essential, and preferably from a provider with no interest in the intermediary’s client.”