Colonial Secured Loans completes Shawbrook’s largest ever secured loan

 

Colonial Secured LoansSecured loans broker, Colonial Secured Loans has completed Shawbrook’s largest ever secured loan of £500k. This follows on from having completed Nemo’s largest secured loan of £200k last month. Colonial Secured Loans have also this month completed a £100k BTL second charge loan with Blemain.

Mark Fry, director,  Colonial Secured Loans said:

“Introducers are becoming more aware of the many situations when a secured loan should be considered. There are at least 10 areas to consider a secured loan with the main reason being where a client is already benefiting from a low SVR or base rate tracker and can’t remortgage to an equivalent or lower rate.

Apart from introducers becoming more aware of the areas to look at secured loans, the lenders have a strong appetite to lend which is reflected in recent figures from the Finance & leasing Association which confirmed that new business has grown 26% in the first quarter of this year. We are finding that although a number of cases do not fit the lenders published criteria, if the client is clearly benefitting from the loan and more importantly they can afford it, then our lenders often take a positive view.

On another positive note I am delighted to say that we have been chosen as one of only 4 brokers who are able to offer Prestige Finance’s Large Loan product range (loans from £100k to £500k) offering a rate of only 7.5% per annum variable.”

Maeve Ward, Head of Sales, Secured Lending at Shawbrook said:

“At Shawbrook we have a constant appetite to lend and we work closely with our broker partners to try to find the best solution for the client. Our approach to lending has always been flexible as we assess each case individually, which enables us to understand the needs of the client. It has been a pleasure working with Mark and his team on this deal, our largest secured loan yet and with the secured market opening up, we look forward to working together on further opportunities”

Simon Mules, Head of Sales,Nemo Personal Finance added:

“Nemo are pleased to work closely with the experienced Colonial team and we have benefitted from the professional approach they have taken with initial enquiries right through to the packaging and payout of the application which will offer reassurance to both the customer and broker alike. The case in question was paid out the same day it was received by our processing team in Cardiff.”

Simon Stern, Director, Prestige Finance said:

“We were delighted to offer Mark and his team our large loan product. They have been very supportive of our new criteria and we are looking forward to continuing to support them and increase volumes in the coming weeks. Prestige and OSB are fully committed to expanding the secured loan market and with the support of the likes of Colonial we are confident the market will continue to grow for the foreseeable future.”

Marc Goldberg, Commercial Director, Blemain Finance said :

“Colonial are recognised as one of the leading specialist packagers in the secured loan market. Having worked with them for many years, it’s great to see them going from strength to strength and completing these larger loans. Their experience and commitment to this market and their knowledge of lenders’ criteria is excellent and reflected in the quality of their packaging.”

 

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