Rising property prices, stricter mortgage criteria and growth in areas such as self builds has seen growing demand for more flexible financial products, which The Loans Engine will now be able to offer through its latest collaboration.
Loans ranging from £10,000 to £5million, a 75% loan-to-value ratio and flexible rates from 1% per month are just some of the extra’s in the enhanced product range being offered by Affirmative Finance. The company specialise in lending to aspiring homeowners who may have little experience in the mortgage market and are therefore unlikely to be accepted by more mainstream lenders.
Nathan Ellis-Calcott, Business Development Manager at The Loans Engine, says:
“For many brokers, second charge loans are not the main focus of their business. Affirmative Finance allows people who may not qualify for the more traditional lending methods a chance to raise finance.
“As the regulation of second charge loans starts to align with the mortgage market, brokers need to be offering financial solutions which offer the best outcome for their client.
“The Loans Engine finds the most appropriate and competitive personal finance options for each of its customers and, thanks to Affirmative’s market leading product offering, we can provide an enhanced range that will make us the best choice for brokers who are looking for a thorough and high-quality level of service.”
Affirmative will provide TLE brokers with solutions in secured bridging, short-term lending and development finance which can be used for a variety of purposes including renovation projects, lease extensions and buying before selling.
Intermediaries will also benefit from:
- Staged facilities where interest is only charged on the money drawn
- 100% of the purchase price, build and refurbishment or development costs
- Exit fee with a maximum of one month’s interest
Eugene Esterkin, Managing Director of Affirmative Finance, adds:
“We are delighted to be working with the team at The Loans Engine and have worked hard to bring another valuable resource to the short term lending market.
“Our development finance products are competitive and market leading, adding a higher service level to the broker market and its customers throughout the lifetime of the loan.”
