Criteria changes as follows:
- Maximum LTV increased to 85%
- Credit Score reduced on the 7.90% Platinum Plan
- Net Loan of £100,000 on the Platinum Plan retained
- Completed “Shawbrook Bank” Loans qualify for NBS Loyalty Reward Points
Scott Thorpe, at Norton Broker Services, commented:
These changes are great news for the Secured Loan Industry. When Shawbrook Bank, rebranded, their message to the market was, they had an appetite to lend.
"The changes are clear evidence of this commitment to lend and the reduced credit score required on the Platinum Plan will allow more borrowers to qualify for this market leading charge rate Secured Loan Product.
"I look forward to continuing to work with Maeve Ward at Shawbrook Bank and build on our excellent relationship.
Maeve Ward, Head of Sales, at Shawbrook Bank commented:
The new changes have been introduced as a result of discussions and feedback from some of our key Lending Partners.
"The Bank looks forward to continuing to work closely with Norton Broker Services, so that it can exploit the business opportunities from the Intermediary market that the new Product Range provides."
