More4loans withdraws from loan packaging

More4loans is pulling the plug on loan packaging, but will continue to trade on an introducer-only basis.

Steve Pollard, managing director of Rotherham based More4loans says with secured loan lenders shrinking on a weekly basis it made sense for it to pull out of the loan packaging business.

He says: “Whilst demand still remains high and we have plenty of enquiries coming through, we shall now introduce this business to selected and trusted master brokers.

“Similarly we have also directed a number of our long-standing introducer partners to these trusted master brokers who we know have offer the same high level of service that we provided. 

“Our business remains solvent and we will continue with our plan to diversify into other areas and although the future of secured loans appears uncertain at the moment, we are confident that the market will return and that we will re-enter the packaging arena when the time is right”