You are here: cherry > Press releases for August 2010 > Secured Loans consulting offer 90% LTV product

02 August 2010

Secured loans consulting (www.sl-cs.co.uk) are delighted to offer a new 90% LTV product to its introducers. The product has been provided by a new lender entering the market, where only employed applicants over 25 years of age will be considered. The max loan amount is only £15,000 however there are thousands of borrowers who are being turned down for unsecured loans who have had no equity in their homes for a secured loan. This new product will now allow these borrowers to secure much needed credit. A 90% product shows signs that attitude to risk is changing and could be the start of more lenders launching similar products. This sort of product will not be the savour of Brokers and borrowers but it does reflect the slow moving recovery in the UK. Richard Croll, New Business Manger at SLC said, this new product is a sign that confidence is slowly returning and it’s almost unbelievable to see a 90% product after so long since the likes of paragon and first plus left the market. We feel this product will assist those borrowers who have been declined on LTV in the passed, because its been an 80% market up until recently, and those brokers who have kept databases of declined cases should revisit these applications and asses their suitability.

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