Last post: Sep 1, 2012
Traditional Secured loans have always had a maximum LTV of 85%. Above that only one or two lenders would look at lending and to do so they charged a comparatively high rate. It was always felt that there was a gap in the market for someone to lend up to 100% LTV but at more palatable rates.
Traditional Secured loans have always had a maximum LTV of 85%. Above that only one or two lenders would look at lending and to do so they charged a comparatively high rate. It was always felt that there was a gap in the market for someone to lend up to 100% LTV but at more palatable rates. Today, we are pleased to announce a product from a new lender that will meet these criteria
This new product is a theoretical 100% LTV loan but that LTV is on referral. The main facts about this new loan product (from a new Lender) are:
- Get £5,000 to £9,000 at up to 100% LTV
- Get £10,000 to £15,000 at up to 95% LTV
- Up to £20,000 is available on referral and even up to 99% LTV but also on referral
- Some small arrears on unsecured debt will be allowed as long as it's not too recent
- Similarly small historic CCJs will also be allowed under certain circumstances
- However, no current or historic mortgage arrears will be considered
- Rates are from 1.8% to 2.25% per month
The flexibility of this loan product both in terms of LTVs and the adverse credit accepted means it does fill a substantial gap in the market. Other lenders like 1st Stop Finance will look at high LTVs but their maximum loan is £7,500. Similarly Evolution Money will look at LTVs up to 125% but their maximum loan is £10,000 and both these lenders have higher rates than most meaning this new product from this new Lender will meet a demand by filling this gap in the market.
To find out more about this secured loan either call us on 0845 1260350 or fill in our Secured loan enquiry form here and we will call you back at a time convenient to you.
Comment