The Loans Engine said that chief executive Ryan McGrath left the firm at the end of October as part of a restructuring of the business.

The finance broker’s chairman and founder Andrew Turner says: “Ryan has made a fantastic contribution to the success of the business over the last 20 years.”

He adds: “While I am extremely sad to see Ryan leave us, we have an exceptionally experienced and dedicated team that will see us continue to deliver excellent service for our clients and mortgage partners.”

The move comes as the firm announced that its in-house second charge sourcing system, Nexus, is now fully integrated with its range of specialist first charge lenders.

The firm launched Nexus in 2012, and has refined the system to suit the changing needs of mortgage brokers, clients and regulation – including a substantial rebuild to meet the needs of Mortgage Credit Directive implementation in 2016.

Turner adds: “Nexus truly is unique. It has been through iterations to adapt to the needs of the post-MCD world, providing a stable, high specification solution to serve clients and intermediaries alike.”

Last month, the firm also launched an advice service for specialist residential mortgage cases.

It says the new service allows UK mortgage brokers to access the firm’s specialist residential mortgage panel using its packaging service.

Brokers are also to refer cases to the company where it will fact find, source, advise and recommend, and package the mortgage through to completion.