Unsecured loans solution for timeshare industry

HMC Funding has launched an unsecured personal loans facility for the timeshare industry.

Ron Howell, director of HMC Funding, says: “For many years, the industry has been constrained by lack of choice and innovation in its finance business. Customers are becoming disillusioned with current offerings.

“They are more educated on finance than ever before and are easily discouraged from purchasing products where interest rates are high. Clients also want choice and flexibility from a finance programme.”

HMC Funding has joined forces with Clydesdale Financial Services to offer the facility, which includes traditional timeshare finance whereby the developer is paid through the trustee.

Instant underwriting decisions are available, as well as documentation production through electronic processing.

There is a buy now pay later option and HMC Funding is offering a charge card facility that can be branded to resorts as well as consolidation loan services for unsecured and secured loans, plus remortgages.

Howell adds: “After years of limited choice, the timeshare industry has a new lender in the market for its unsecured personal loans business. With Clydesdale, we have developed products designed to boost income through higher sales volumes and at the same time increase customer choice, flexibility and loyalty.

“From the salesperson’s perspective we have removed the objections to finance and made products that are easier to sell.”

Craig Murray, managing director of Clydesdale Financial Services, says: “With HMC Funding we have found the right partner and believe that with our products, electronic processing systems and keen pricing, we can help the timeshare industry grow its sales significantly.”