Introducer Today

The Missing Link

By Introducer Today editorial director Victoria Hartley

Secured loan provider Link Loans' market re-entry caused a bit of a sensation this week. The secured loans provider has launched in partnership with several distributing broker packagers including V Loans, Promise Solutions and Blue Sky Mortgages. The media buzz showed the broker industry is pleased to see this kind of commitment from a lender. Link Loans also confirmed it was courting intermediaries and looking for new relationships.

The market, at a very low ebb and reduced to three lenders before Christmas needs all the energy it can get. A massive funding crisis ripped the guts out of the sector but V Loans business development director, Dave Pinnington, called the re-launch “a shot in the arm for the sector.”

He said: "The products are competitive and offer a particular facility for the self employed applicant, who has been worst hit by lack of product choice in the past year. Link's return, backed by a major UK bank, should provide fresh impetus to our market and really help to galvanise new secured loan lending."

Its range includes rates starting at 11.40 per cent, lending to both employed and self-employed borrowers and loans of between GBP 5,000 to 30,000.

Ian Broadbent, director with Scunthorpe-based Blue Sky Mortgages said the loan ...More