The website, www.newtomorrowbrokerservice.com will allow advisers to refer clients to the company’s broker services team of debt solutions experts, who can offer independent and free debt advice.
The service is designed to offer intermediaries an alternative for indebted clients who might otherwise be refused further credit or a remortgage.
Ian Wright, director of newtomorrow.com, says: “If intermediaries have exhausted all of their own options, we are able to use our experience in debt solutions to offer their client a way out of debt.”
After the intermediary has logged on to the new site and completed an online fact find, Newtomorrow Broker Services will run a solution which could include a personal debt management plan, where debtors make monthly repayments to creditors, or more formal agreements such as IVAs or protected trust deeds.
“Current market conditions are making things more difficult for everyone, intermediaries will be feeling the impact of tighter lending criteria as fewer people will be granted credit,” says Wright.
As consumers feel the pressure of rising costs and may not be able to obtain credit which was once readily available, there will be a knock-on effect for intermediaries. Their income streams are being reduced as they are unable to source suitable refinancing solutions, he says.
”The new online portal is designed to help intermediaries offer a real alternative to indebted clients. Our whole ethos revolves around finding the right solution for each individual client, ensuring access to the solution is convenient and the arrangements are sustainable.”
Newtomorrow is part of the Invocas group.
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