In particular, they have headlined with the launch of their One Unit Plan.
Nemo announced to all brokers as of today that they have reduced the minimum credit score on their 85% LTV product, whilst increasing the LTV on several other products across the range.
However, the biggest change to the lender's criteria is the introduction of a one unit plan, a product that hasn't been offered by Nemo since the credit crunch.
On the release of the new criteria, Sam Marshall, Joint Managing Director commented:
“The introduction of these new products provides confirmation that Nemo remains firmly committed to the Secured Loan Industry and to its broker network. We anticipate that the introduction of these products will create an additional £4m - £5.5m per month of new origination which based on current statistics, represents a 20% growth opportunity for the market."
Matt Tristram, joint Director of Loans Warehouse said:
"When we received the call from Nemo last week telling us about not just the new criteria but the target of growth we were very excited. There are a handful of secured loan lenders really driving the industry and Nemo are clearly one of the market leaders."
