Improvements include the introduction of two new products and enhancements to existing plans:
- Increased LTV to 80% with competitive lending rate
- Loans from £75,000 to £200,000 now available up to 75% LTV
- Reduced credit score allowing historic arrears, CCJs and defaults still to 75% LTV
- AVMs now accepted up to 65% LTV across ALL standard plans up to maximum loan of £50k
Six months after its relaunch, Prestige Finance has once again become a major player in the thriving secured loan market. According to Director Simon Stern, the positive way in which the intermediary market has responded is down to the input from its key distribution partners and the support of OneSavings Bank.
He said:
“The new criteria provide further significant enhancements to our proposition for intermediaries and their clients. We have also moved quickly to increase our use of AVM’s to speed up the lending process in the wake of concerns over the pressure on surveyors. Yet another sign that we are constantly looking to evolve as a business. The quality of the cases we are seeing, along with the appetite and support of our parent and introducers, make this next step in our journey that much more significant.”
“Secured loans are back on the map in a big way. I am looking forward to meeting intermediaries at the Financial Services Expo at the beginning of October to discuss and demonstrate just how important secured loans are in any broker’s lending options for their clients.”
