View more on these topics

FLM Loans looking to boost lending to brokers

Bournemouth based sub-prime loan lender FLM Loans, part of the Richmond Group is looking to bolster its distribution through secured loan brokers.

The lender says it is in a unique position to offer unsecured loans up to £3.000 to clients on a low income or with bad credit history problems, on the condition they can offer a guarantor.

Nick Fletcher, brand manager at FLM Loans says it already has a number of intermediaries on its distribution list but is looking to increase this.

He says: “We have a niche product to match the client’s needs and are able to offer loans to those that wouldn’t normally be eligible and have been refused elsewhere. The loan will be paid to the guarantor who will pass it on to the applicant.

“A guarantor will normally be a family member or friend, as long as they are a homeowner earning a net income of £800 per month or more.”

If the loan is outside this criteria The Richmond group also has an unsecured Loan brokerage Advantage loans & Tennant Loans which specialise in placing clients with an adverse history.

Recommended

Lenders selfishly pick and choose what TCF means

TCF is a daily consideration for all brokers but I have an issue with how lenders seem to decide what constitutes meeting the initiative to suit their own ends, even if it disadvantages borrowers.

How to use wills to protect your clients’ wishes

March was Free Wills Month! Free Wills Month brings together a group of well-respected charities to offer members of the public aged 55 and over the opportunity to have their simple wills written or updated free of charge by using participating solicitors in selected locations around England and Wales. Research by the Law Society* highlighted that only 64 […]

Newsletter

News and expert analysis straight to your inbox

Sign up