The secured loan products that will be offered are those currently provided to homeowners in England and Wales and the main features are:-
- Loans from £3,000 to £50,000 (more on referral)
- Loan to values up to 75%
- Charge rates from 9.90%APR
- Products available both for prime and adverse homeowners
- Flexible approach to lending that delivers a high payout conversion rate
Stephen Lawrence, Group National Sales Manager for the Norton Finance Group, commented:
"Lending in Scotland will allow us to develop new secured loan business for Norton Home Loans through the appointment of new packagers in Scotland and by developing additional business from our existing packagers in England and Wales."
Craig Gallagcher at Smart Money Loans, Glasgow said:
"We are delighted to become the first new Scottish secured loan packager for Norton Home Loans. The loan products they offer will allow us to package more business for our broker network at a time when secured loan completions are delivering increased monthly volumes as they are an attractive alternative to a remortgage."
