New lending options for borrows with poor credit…
By Bridging Loan Directory -
Since the start of the ‘Credit Crunch’ some of the biggest losers have been those borrowers with a poor credit rating. Whilst we are continuing to see mortgage lenders increasing LTV’s there is a definite fear factor to introducing anything to help people with a history of poor credit.
Throughout the last five years one industry has consistently offered lending option to borrowers with adverse credit, the Secured Loan industry… Lenders like Prestige & Blemain have continued to trade thought out the credit crunch and in recent times the market has seen several new introduction including First European, Spring Finance and just two weeks ago we saw the unveiling of Equifinance all of which have increased the options to these type of borrowers.
During one of the worst recession in the country’s history high street lending has completely turned its back on customers that have struggled to maintain a perfect credit rating but the secured loan industry has remained strong and now boasts a range of products for all types of borrowers not found anywhere else, including lending options for those with high levels of mortgage arrears, CCJs and defaults, high unsecured borrowing and even a straightforward approach to the self-employment.
One of the market’s leading brokers is Loans Warehouse who have specialised in this type of lending in recent years, offering access to all of the above mentioned lenders and more, have today unveiled an EXCLUSIVE larger loan product with First European Securities, this just a week after being the first broker to launch publicly with Equifinance.
Matt Tristram, owner of Loans Warehouse told us this morning ‘In the past few years we have completed over a thousand loans for customers with less than perfect credit, it’s a reality of the current climate that people, even those with a poor credit history, need to refinance and restructure their borrowing’
‘The introduction of new lenders like Spring, Northstar & Equifinance along with improvements to the existing range from First European means as a broker we now boast the market leading range of products for borrowers with adverse credit, we believe we can complete loans no one else can, challenge us if you don’t believe it?’
For more information on the exclusive larger loan product available through Loans Warehouse brokers should call Matt or Sam on 01923 678 870 or follow us on Twitter @LoansWarehouse