Try sending a version of this email to your introducers.
If they respond, get the basic details and then give us a call.
Dear [ ]
As you may have heard the secured loan sector is booming and more people are realising how easy it is to arrange a secured loan compared to obtaining a mortgage or bank borrowing.
We have access to the widest loan panel in the UK and can deal with the entire process. Of course we will also consider our other finance sources but please talk to us about your more difficult cases. We are having great success placing cases which previously would have gone in the bin.
You can just give us the basic details and we can do the rest. Alternatively we can liaise with you. So if you have a difficult case on your desk, please call me.
In the meantime, here are a few headlines where a loan may be worth exploring
- Rates start at 5.45%. Adverse over 12 months old can be ignored.
- Loan amounts generally from £5,000 to £2,500,000 – the sweet spot is for loans between £20,000 and £200,000.
- Age up to 80 at the end of the loan, including interest only.
- Employed income – using affordability calculators we can often achieve 10X multiples
- Self Employed Income
- If recent accounts not good enough can consider projections
- Can assess affordability using bank statements or SA302’s
- Remember the higher multiples may also still apply
- Mortgage arrears
- Heavy arrears to 65% LTV ( referral plan up to 75% LTV but rates higher)
- Arrears over 12 months old to 77.5%LTV
- Arrears over 24 months old up to 85% LTV
- CCJ’s and Defaults
- Many ignored over 1 year old so potentially up to 95% LTV
- Heavier and recent adverse between 65% and 75% LTV
- Current bankrupts or in an IVA – can pay these off up to 65% LTV – higher if all conduct A1 in recent years
- LTV Guides – general
- Up to 65% heavy adverse accepted – possible 70% or 75% but loan capped at £10000 and £20000 respectively
- 65% to 75% some mild adverse will be considered dependent on size and age of the event
- 75% to 85% generally clean cases with minor glitches or historical adverse
- 85% to 95% again clean cases but rates are getting high – possibly consider an unsecured loan
- 85% to 125% will consider some defaults and CCJ’s – rates high and maximum loans £15,000 but a far cheaper option than a Payday loan
- BTL’s – Second charges available up to 85% – will rely on rental income only and adverse accepted but may affect the LTV – max age 80, including interest only.
I hope this is of interest – please feel free to call me on ……