The Intermediary – May 2025 - Flipbook - Page 10
S E C O N D C H A RG E
In focus
OMS’ credit search also works to support
complex cases. Jannels says: “A key example is
our credit search process, which occurs at the
outset of the application.
“This gives brokers immediate access to a
standard income, and we continue to adapt as
customer needs change.”
API-driven pre-underwriting checks provide
clarity, avoiding wasted effort.
Vaughan says: “Early eligibility is still one of the
borrower’s full credit profile, enabling them to
biggest pain points for brokers, so we’ve tackled
make faster, more informed sourcing decisions
that head-on.
tailored to the client’s circumstances.
“This is especially valuable for clients with
“By running pre-underwriting checks on credit
files and property details, we can provide reliable
credit blips. By embedding this early in the
decisions in principle [DIPs] much earlier in
journey, OMS reduces friction, improves sourcing
the process.
accuracy and helps the broker get to a ‘right
first time’ solution which ultimately benefits
“This gives brokers more confidence and avoids
wasted effort down the line.”
the borrower.”
Selina Finance targets self-employed and non-
Careful compliance
prime borrowers, a growing segment for whom
Technology ensures compliance with Financial
second charge options can be vital.
Conduct Authority (FCA) regulations, including
Vaughan notes: “It’s clear the market is
Consumer Duty, as well as General Data
growing. We’ve used this opportunity to focus on
Protection Regulation (GDPR) and anti-money
segments that are often underserved, particularly
laundering (AML) standards.
self-employed borrowers and contractors. Our
Stern says: “Our systems balance speed with
lending policy is designed to flex around non-
the depth or quality of decision-making we’re
p
“I told you to only call on me for emergencies, Gordon. You just need a second charge.”
