Fluent Money, the UK's largest second charge mortgage distributor, has launched entered the main mortgage market.
It has launched Fluent Mortgages, which will lend to the intermediary market and the move comes after Fluent Money bought Brytannic Extra Finance in 2017 to widen its product range.
Fluent Mortgages will provide specialist services for those taking out an initial mortgage on a property - a so-called first charge mortgage - to those brokers who already use Fluent for Advisers, Fluent Money’s intermediary facing division.
Second charge mortgages, the main business of Fluent Money up to now, are a secured loan, which means they use the borrower’s home as security, and are taken out after the initial mortgage.
Kevin Hindley, chief executive of Fluent Money, said: "We have made no secret of our desire to expand our reach. Fluent Mortgages and its team led by Dan Payne, have the expertise we need to compete in the wider specialist first charge lending field.
"We are already talking to our existing partners about Fluent Mortgages and the appetite they have to extend our service into specialist lending and the response has been fantastic. Integrating the new Fluent Mortgages into the Fluent family is now complete and we are rolling out our full offering to the market."
Since June 2017, when Brytannic was purchased, its staff have relocated to Fluent’s head office in Horwich, near Bolton, and integrated their processes into Fluent’s.
Mr Payne, director of Fluent Mortgages, said: "We have worked very hard to reach this point where we can provide a full specialist first charge lending service backed up by the Fluent brand, which is already a watchword for excellence and customer satisfaction.
"My team and I are looking forward to working with Fluent’s existing partners and making Fluent Mortgages as strong a force in specialist first charge lending as it already is in second charge mortgages."
damian.fantato@ft.com
