Secured Loans Consulting offers 90% LTV
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Secured Loans Consulting is offering a 90% LTV secured loan deal provided by a new lender entering the market.
The unnamed lender will only lend to employed applicants over 25 years of age and the max loan amount is £15,000.
Richard Croll, new business manger at SLC, says the product is a sign that confidence is slowly returning to the market.
He says: “We feel this product will assist those borrowers who have been declined on LTV in the passed, because its been an 80% market up until recently, and those brokers who have kept databases of declined cases should revisit these applications and asses their suitability.”
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Readers' comments (4)
Paul | 2 Aug 2010 2:30 pm
If the house is worth 100k, will they lend the full amount available? I hope this isnt the start to more wreckless lending but a more flexible, yet prudent approach.
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Anonymous | 2 Aug 2010 3:00 pm
All new entrants to such a depleted market are welcome but we wait and see whether they actually PAY OUT any of these headline grabbing 90% deals.
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Anonymous | 3 Aug 2010 12:39 pm
bov
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James Briggs | 5 Aug 2010 9:14 am
I can’t understand the secrecy. Surely any new lender would only have a limited tranche of funds for such high LTV lending and therefore would be in no danger of being swamped with volume.
Is Richard Croll personally providing the funding?
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