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What you need to know – Bad Credit Secured Loans

Promise Money has secured loans available for people who have had credit issues in the past as well as those with clean credit histories

£50000 secured loan bonus

Earn an additional £300 bonus on your large loans

Secured Loan Comparisons

Here is an email template you can send to your business contacts to generate secured loan enquiries.

Secured loans for clients with poor credit e.g. CCJ’s, Defaults, IVA’s

We get many calls asking if we can arrange a loan for someone with bad credit.

No equity & high LTV secured loans with bad adverse credit & arrears

A broker mentioned to me yesterday that he had forgotten about our 125% LTV (adverse accepted) secured loans.

Email template for your clients – Secured loans adverse credit

a version of our adverse credit update which can easily be forwarded to introducers.

Secured loans for people who have problems with income

I have been asked to circulate something to brokers regarding income specifically showing points they may be missing out on.

High LTV above 125% secured loans including poor credit

A broker mentioned that he had forgotten about our 125% LTV (adverse accepted) secured loans.

New secured loan up to 99% LTV

Here’s another new lender – 95% with mild adverse (99% on referral)

Pension loans for Limited companies

Here’s another new product which I think will interest you.

Loan Broker Update: Difficult loan, funding & capital raising options

It’s fair to say that most loan enquiries come to us for the straight forward reasons we all know

How to solve complex income scenario’s for secured loan applicants

Clients often get turned down for finance due to the income criteria of a particular lender.

Guarantor Loans

Guarantor loans now available

Difficult loans or finance applications

Secured loan brokers constantly preach how a loan can provide a solution when a remortgage is declined.

Large secured loans £30000 to £50000

Large loan update – better products to help leave the existing mortgage in place.

Secured Loans with little or no equity

Over recent weeks a number of high LTV secured loans have come to the market

The lowest loan interest rate for at least 6 years

To start the year I am pleased to tell you we have a major product change

Higher LTV’s and lower loan rates from Blemain

We have some improved Blemain terms to share with you. Given this is good news for all brokers,

Loans for self employed – no accounts – poor credit

This new product will be of benefit to clients with heavier adverse credit

A new loan for borrowers in Scotland

Masthaven Secured Loans have extended their lending into Scotland today.

Self employed loans and business finance

With tax bills looming, here is a reminder of some of the additional products which may help your clients.

High LTV secured loan for borrowers with past arrears or poor credit

NEW Secured Lender – High LTV – poor or bad credit accepted – rates from 8.9% – LTV’s up to 85%

Remortgage Declined? Find a solution with the secured loan guide

For brokers helping their clients to capital raise, this simple guide may help identify where a secured loan may be an alternative to a remortgage.

Brokers tap into doubled commissions with large secured loans

it is clear that the secured loan market is proving more popular for clients raising large sums.

Spot Secured Loans Faster – Refer Them Faster

Are you too busy to offer secured loans on your remortgage declines?

Second Charge Loans

Promise was fortunate to be one of the first Brokers to offer second charge loans from Masthaven when it launched towards the end of last year

Large amounts Secured loans

Not only have we just completed Nemo’s largest ever loan

New products from secured loan lender – large loans at low rates

These homeowner loans are now live on the Promise sourcing portal – alongside the other 17 secured lenders.

Brokers at risk from claims management companies

It is widely believed that brokers, in particular those involved in mortgages and loans, are in the firing line

Secured and Bridging loans online application

Its free, simple and easy to integrate. Here’s how it could work for you.

Short term loans bridging or a secured loan

We are regularly asked by our brokers for short term bridging.

New secured loan accepts buy to let

We are now up to 16 secured lenders – That’s double what you get on other sourcing systems

New sub prime secured lender accepting poor credit & minimal equity

This is double the number of lenders offered by most loan sourcing portals

Secured Loan Company reaches 10th birthday

Promise has celebrated its 10th birthday

Paragon introduce three and five year fixed secured loans

Paragon has today introduced new three year and five year fixed secured loans

Central drop rates on secured loans again

Central have today unveiled a new criteria update which sees their interest rates drop once again

A new option for self-employed borrowers

HMRC are currently being swamped by requests from self-employed individuals for SA302s to support mortgage applications.

Congratulations to Simon Stern

After 30 years at Prestige Finance Simon Stern has now left onto pastures new

Significant changes in the secured loan sector

Last week saw some significant changes in the secured loan sector.

Precise add new five year fixed secured loan product

This morning Precise Mortgages has enhanced its secured loans offering

Overview of BTL secured loans

I predict that this year is going to see a massive increase in BTL secured loans

Equifinance relax 80% LTV secured loan for recent arrears & CCJ’s

Equifinance, the specialist secured loan lender, has relaxed its criteria most notably to accept applications at 80% LTV

Nemo reduce secured loan rates by up to 0.9%

We have released some amendments to Nemo’s criteria this morning with secured loan rates reduced by up to 0.9%.

Secured loans – Not just for problem cases

Last year I ran a series of roadshows for brokers and was surprised by how many still think of secured loans” as a last resort product.

Mortgage Brokers getting to grips with Secured Loans

It is common industry knowledge that Second Charges will harmonise with first mortgages in March

Secured loans for tax purposes

out of the blue, a nice tax bill comes through the post.

Secured Loan Case Studies – Shawbrook

Sometimes a case study can help brokers more than an overview of the underwriting criteria.

Second charge bridging from 0.4% per month

If the above caught your attention it was intended to make a specific point – please read on.

New 90% LTV BTL Second Charge

Another useful product has hit the market which may prove useful to assist your clients in raising cash

Second charges at 100% LTV

Evolution have released a cracking new product for certain quirky / high LTV scenarios.

Secured Loan Update: Blemain take another 0.5% off rates

Blemain have today reduced their loan rates by up to 0.5%

Nemo make further secured loan rate reductions

Last night we were informed of further rate reductions to our Prime range of secured loans.

Lower rates and new lender in Scotland

Recent lender changes are good news for brokers – particularly those working in Scotland.

BTL second charge loans reduced to 5.79%

If you deal with BTL landlords this could be a product you have been waiting for.

No need to fear secured loans

I think it’s fair to say many brokers approach secured loans with a degree of caution.

BTL second charges – missed opportunity?

The rise of buy-to-let continues apace, despite a challenging few weeks for the sector.

Are your secured loan processes up to scratch?

How much of your day to day duties have become habit?

How to show value to the customer without going too far?

Many DA brokers face the same conundrum when it comes to secured loans.

Not offering secured loans? When will your advice end?

As the industry braces itself for full regulation of secured loans I have noticed there seems to be three schools of thought emerging.

How to deal with complex cases

While I am sure it is every brokers dream to deal with only straightforward, prime clients

The importance of flexibility

Those of you who regularly read my column will know I am of the belief that mortgage brokers should not fear second charges

Do you want to stay ‘whole of market’ & ‘independent’?

Are you a ‘whole of market’ broker? If you are it’s no doubt a label you want to keep hold

2016 – We’ve got a plan so it doesn’t need to be a bumpy ride!

We hope you have had a wonderful Christmas and New Year.

New Interest Only – No Upper Age Limit

This product has been launched today – only through selected packagers.

New improved complex second charge

This adverse loan from Spring Finance has been revamped

What will be the impact of MCD on consumers?

Since talk of EU legislation first began, many years ago, the impact it would have has been discussed exhaustively.

Second Charges will never be the same again

The second charge market as we know it has changed forever.

Second charge advice – what is it?

Sometimes, even with the very best intentions it’s possible to get things wrong.

Have you spoken to your BSM?

Have you spoken to your Broker Sales Manager recently? (BSM).

Fantastic improvements to near prime seconds

Some great new criteria has arrived from Step One which I thought you might want to know about.

Brexit forces down near-prime rates

Following the recent EU referendum and Britain’s decision to leave the EU, rates have begun to be forced down.

Top 3 broker needs for second charges

Recent meetings held between Promise and AR / DA firms have highlighted that mortgage brokers who have embraced second charges

Am I wrong about this?

A good proportion of UK consumers will want to raise capital but talk themselves out of it

To advise or not to advise?

That seems to have been a key question for mortgage brokers in 2016

Offering a blended solution – Part 1

Here we post a series of articles showing how first charge, second charge, bridging or commercial mortgages

Promise integrates with 7th second charge lender

Leading master broker Promise Specialist Lending has completed XML integration with Shawbrook

Overcoming consent issues

What do you do when the first charge lender won’t consent to a second?

How to solve a problem like second charge fees?

There’s been plenty of debate of late surrounding fees in the second charge market. And rightly so.

Second charges – seas the day

For the big financial purchases or restructures customers will often think remortgage and might contact their broker.

Service is Key

What’s the most important aspect of your business? Which area do you focus hardest on?

Will the lure of independence be enough?

I have spoken many times about the need for mortgage brokers to embrace secured loans and accept them as a mainstream product.

Punjabi and Urdu speaking secured loan team

Brokers applaud Punjabi and Urdu speaking secured loan team

Review of second charge mortgage market in 2016

2016 was always going to be a challenging year for seconds, was it harder than you expected?

Save your clients money with a third charge

Picture the scenario where your client wishes to capital raise but there is a second charge in place which they don’t want to clear.

That deal you are thinking of binning

Many of our brokers are now so busy with mortgage enquiries that they don’t have time to focus on their complex cases.

The tides beginning to turn

Where is this so called second charge boom? That seems to be the question on everyone’s lips right now. Why didn’t it happen?

A strategy to grow your business faster

We know that consumers generally don’t go to their mortgage broker when they want a loan. Instead they go online and apply to someone else.

Back to Basics

Let’s start with the basics. Do you know what a second charge is? If not don’t worry, you’re not alone.

Second charge rates cheaper than first charges?

We talk quite a lot about how second charge can be the more cost effective solutions for a number of borrowers.

Where do we go from here?

I’m sure that’s a question pretty much everyone in the country is asking themselves right now following last month’s politics news

Battling the comparison sites

After adapting to multiple new regulation regimes in recent years – not to mention dealing with a political elite who seem to be addicted to chaos and confusion

Second charges – pleasure or pain?

Are you motivated by pleasure or motivated by the avoidance of pain?

Promoting Second Charges – More to be done

There’s a shared consensus in the second charge market that more needs to be done to promote the products on offer, both to mortgage brokers and to consumers.

Educate Educate Engage

If you’d asked me several years ago how I felt about skiing I’d have told you I was not a fan. This, however, would have been something of an untruth.

Why wouldn’t you?

If I told you you could increase your income by doing something almost identical to what you’re doing now, that wouldn’t increase your hours and wouldn’t mean missing out

Is there space for more competition in the second charge market?

Is there space in the second charge market for more lenders?

What a difference a month makes

Secured loans are already highly flexible and competitively priced but there are two other important drivers which will influence the growth of the second charge industry.

Customer awareness in second charges is growing – make sure not to miss it

How much do you have to say something before people start to believe it’s the truth?

Brokers still unaware of second charges

Awareness. It’s a word that has been bandied about a lot in recent years as the second charge market looked at ways to increase broker engagement.

Second charges – The pivotal moment?

The second charge market is at a pivotal point. Lending volumes may have been rising for some time now but only now

Understanding second charges

It’s not surprising that some brokers steer clear of second charge loans when there is so much conflicting information

West One Shake Up Second Charge Market

West One has long been a key player in the bridging market and one which is popular with brokers and clients alike

Second charges for capital raising clients.

If I asked the average broker if he or she gets many second charge enquiries the chances are the answer would be “no, not many, my clients don’t need second charges.”

The Threat of CMC’S

Unfortunately it is also home to a group of businesses, some of which have encouraged consumers to produce fictitious complaints and claims on an industrial level.

PPI Claims Firms – Who will they target next?

According to reports PPI claims soared in the first half of 2017, hitting a three year high. At first glance this seems almost impossible.

Fancy a 1% discount on your business loan?

Are you aware that we can get a 1% discount on commercial borrowing?

Solutions you wont find on sourcing systems

I have a promotion at the moment for your non standard cases. Let us package your cases for £99 and you still get a 0.35% proc fee

Your flexible friend

If you are looking for flexible lending, then please talk to us about our range of second charges.

How brokers use seconds – Affordability

My second charge case studies this week focus on affordability.

2017 – Year In Review

At the start of 2017 there were plenty of hopes that 2017 would be the year that we saw major progress in the second charge market.

Navigating the fees issue

When it comes to fees on second charges there are many opinions and probably as many options.

Should We Ignore People With Poor Credit History?

or some brokers credit repair is a dirty phrase that conjures up images of unreliable clients with shady credit histories that should be avoided at all cost.

The changes to paying your Tax Bills

Some of your self employed clients may be in for a nasty shock in the next week or so.

Second Charge Market – Success or failure?

Thanks to MCD and the tireless work of those in the seconds industry in educating the sector awareness has increased and so too are lending figures.

How to spot a big opportunity

So far this year we are seeing more large second charge loan enquiries.

Simple changes to open more opportunities

Unsurprisingly, given the last few years in the mortgage market, ‘change’ is a word many brokers are somewhat wary of.

Solutions for HMO lending

There has been a massive spike in HMO property investors over the last 12 months – the returns can be outstanding.

Can I help your Ex Pats?

With more Brits living and working outside the UK there is an increase in enquiries for Ex Pat mortgages via our panel of specialist Ex Pat lenders.

Guide to placing complex cases

Some brokers have asked for a second charge guide to help them place more complex loan and remortgage cases.

Flavour of the month – No ERC’s

Loads of our brokers are looking for loans with low ERC’s and low lender fees.

100% LTV and 3rd charges with adverse

This has just come in. Please take a moment to read this.

Rate crash on BTL seconds

We want to make sure you know about the massive rate drops on Together’s BTL second charges.

Second charges. Are you being Misled?

Though it’s not the most pleasant thing to acknowledge, as a magazine contributor, it’s certainly the case that a large majority of people will only read the headline of a news story or article.

Why Brokers are needing to diversify

Recent research conducted by Legal and General Mortgage Club has revealed that over 80% of brokers will look to diversify their business models and income streams

Sometimes a second is just easier

Just for a change, rather than tell you about the niche products we offer, here are some more straight forward examples of large recent second charge cases.

The effects of GDPR

If you need a positive shot in the arm here’s some of the more positive news which is circulating.

New plans and rate reductions – second charge

West One has revamped their second charge product range with lower rates, higher LTV’s and more flexibility.

95% purchase – failed credit score

We are seeking opinions on how useful this new product would be to your clients and plan to release it first to Promise’s registered brokers.

GDPR – it may change your process

Just a quick heads up on how some lenders are dealing with GDPR.

New high LTV lender today

Just a quick update on a new lender to offer high LTV secured loans – Optimum – 95% LTV.

New lender in Scotland

We are writing to our Scottish brokers with details of a new lender.

HMO second charges – rate reduction

Just a quick note for a Friday afternoon – probably Monday by the time you read this.

Working in a post GDPR World

Now that the General Data Protection Regulation (GDPR) has finally come into effect

Second charge rate reductions

Just a quick update on the second charge front

Exclusive – 90% LTV mortgage with adverse

We have a fantastic new product which we really think you need to know about.

Can we get ahead of the game?

If you are going on holiday soon, do you have any second charge cases you want me to look at for you now?

Still Work to do on Seconds

Accord to research by SimplyBiz Mortgages, only 15% of mortgage broker are not involved in the second charge market at all.

CPD – 100% LTV second charge lending

There has been an update on our high LTV second charge plans.

Are Mortgage brokers engaging with second charges?

It’s been a key question in the mortgage industry since MCD was introduced

Uncertainty where there should be none

We live in uncertain times. None of us have any idea how Brexit will pan out, if at all.

Equity release second charge and new lending options

One of our most flexible second charge lenders has just reduced its rates by up to 2% and introduced a range of new features.

New lowest second charge rate

Further to our blog post yesterday, we have an important rate reduction for you.

Rates reduced on high LTV cases

After a quiet summer, second charge lenders are making improvements.

New lender launched in Scotland

A new complex first charge mortgage lender has just launched in Scotland which we thought you may find useful.

Scotland – new credit repair lender – as promised

As promised, here is a criteria overview for another of our specialist lenders which has now launched in Scotland.

We are not stalking you – Really..

there’s a lot happening with second charges to tell you.

Specialist mortgage rates reduced

Reduced rates for those quirky / complex purchases and remortgages – see below.

Complex loans – now 1% lower

We know we’ve bombarded you recently with good news about second charges.

Scratching your head?

We don’t want you to forget us – or those little second charge niches which can sometimes be so useful.

Latest product roundup

Here’s a summary of October’s positive changes in the second charge market.

Our new lowest rate ever

We have made some significant changes to our second charge range and introduced a NEW lowest rate on the market with some other great features.

New Lender – complex commercial

Take a look at this new product for your self employed / business clients who want a commercial mortgage

New Fixed rates – with no ERC’s

We want to make sure you didn’t miss the cheapest second charge we launched last week?

Second charges: solving the generational divide

At present the mortgage market stands at something of a generational divide and it’s one that could have considerable implications for the second charge market.

How a high LTV lender could help you

If capital raising with a high LTV remortgage is tricky, see how high LTV second charges might help people now

Busting the ‘second charges = hassle’ myth

One of the biggest misconceptions I hear when speaking to brokers is that offering seconds is too much hassle.

Together improve their products for Together Plus partners

Together Money, one of the UK’s leading specialist lenders has introduced preferential rates for selected partners which coincide with the founding business turning 45 years old.