The availability of finance for credit impaired borrowers has increased following the launch of a new lender through broker Promise Solutions.
Secured loans for borrowers with high adverse credit which were previously only available up to 65% LTV are now available at up to 75% LTV.
Unlike with other lenders, there is no equity reduction on former council houses.
Owner occupied semi-commercial properties will also be considered, as will borrowers on benefit income or who have county court judgements against them.
Steve Walker, managing director at Promise Solutions, said: “This is an exclusive product and it is a real shot in the arm for Promise introducers, enabling them to place significantly more loans than they might through other master brokers.
“The 10% uplift in LTV is important, but the more flexible attitude towards ex-council houses, income proof and semi-commercial properties makes this product the most significant single advance in product development we have seen for many years.”
News Source: http://www.introducertoday.co.uk/
Secured loans for borrowers with high adverse credit which were previously only available up to 65% LTV are now available at up to 75% LTV.
Unlike with other lenders, there is no equity reduction on former council houses.
Owner occupied semi-commercial properties will also be considered, as will borrowers on benefit income or who have county court judgements against them.
Steve Walker, managing director at Promise Solutions, said: “This is an exclusive product and it is a real shot in the arm for Promise introducers, enabling them to place significantly more loans than they might through other master brokers.
“The 10% uplift in LTV is important, but the more flexible attitude towards ex-council houses, income proof and semi-commercial properties makes this product the most significant single advance in product development we have seen for many years.”
News Source: http://www.introducertoday.co.uk/
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