Promise has added yet another secured loan product to its award winning sourcing platform keeping it ahead of the competition in providing brokers with the widest secured and unsecured loan panel in the UK.
The latest offering from Promise is available on limited distribution and is aimed at high LTV borrowers who might have failed to obtain an unsecured loan. Its place in the market sits between Shawbrook and Nemo, which both lend up to 85% LTV, and Promise’s other higher LTV lenders such as Evolution and First Stop Finance.
Steve Walker, Managing Director of master broker Promise Solutions said:
“This new lender, Lesley Stephen & Co, fills an important Niche for borrowers with insufficient equity to get a loan from Nemo or Shawbrook. The rates available are significantly lower than other high LTV lenders and loan terms are available up to 180 months on referral. The maximum loan amounts are also higher with published terms up to £15000 although loans up to £20000 and 99% LTV will be considered on a referral basis. Provided borrowers have an excellent mortgage profile (although some arrears may be considered with an acceptable explanation) borrowers with some historic unsecured credit problems can be considered at rates and repayments not previously available to the wider broker market.”
