View more on these topics

Vesta launches secure lending

Vesta, the national packager and branded lender, has launched a secured lending business to tap growing demand for secured finance.

Vesta Secured Loans has opened its doors to brokers, allowing them to access products from lenders such as First Plus, First National, Southern Pacific Personal Loans and Preferred. The operation is available nationally with an upper lending limit of 100,000.

Mark Leaper, managing director of Vesta, who heads the new operation, believes secured lending presents massive scope for growth among financial intermediaries.

He says: “There is a lot of business out there that brokers are missing. Consumers are going to other sources for secured lending, but would often do much better if they considered their financial intermediary first. People can sometimes be trapped in their mortgages by large redemption payments and in such cases it is much easier for them to take out a secured loan. We aim to help brokers meet this growing demand.”

The business is offering intermediaries a high level of service, similar to that offered by Vesta’s packaging business.

Leaper adds: “By offering the sort of service that brokers want, we have won a significant share of the packaging market and are now going to do exactly the same in secured lending. It is still unfortunately the case that a lot of financial service providers do not address brokers’ needs.”

Recommended

LeadX tells providers to wake up to the leads revolution

LeadX, the recently launched lead trading site, says mortgage providers wishing to maintain or increase market share need to wake up to the revolution that has occurred in sales lead transfer and latch on to the principle of trading sales waste. The website is an online trading floor that allows pensions providers to manage their […]

Lighthouse launches next stage in mortgage and protection services

Lighthouse Group is launching the next stage in the development of its specialist mortgage and protection services. The offering sees Lighthouse which is an established national IFA launching its own panel of lenders including high street names such as Abbey, Halifax, Nationwide and Northern Rock, and still maintaining a strategic link to The Scottish Provident […]

Pension crisis is bolstering buy-to-let market says RICS

The continuing pensions crisis is bolstering the UK buy-to-let market as investors choose to hold on to properties for the long term, says the Royal Institution of Chartered Surveyors.Its quarterly lettings survey published today shows tenant demand for rental property is at its strongest since January 2004, with 23 % of surveyors reporting a rise […]

HBOS unveils 10 to let deal

HBOS is expanding its portfolio products across the three brands, The Mortgage Business, BM Solutions andBank of Scotland, to include a 10 tolet product. Available at first through TMB, the product will allow borrowers to have as many properties as they want, provided theydon’t exceed the 10m mark.

Newsletter

News and expert analysis straight to your inbox

Sign up