Currently, BTL second charge loans are unregulated and therefore upfront packaging costs can be passed to the borrower prior to completion. From Positive Lending’s research most packagers do pass costs on to the borrower.
Chris Fairfax, Managing Director, Positive Lending said:
“We are always looking for ways to differentiate Positive Lending from our competitors and deliver genuine value to our introducers. We believe this is another innovative offering that will help to maximise conversion”.
Maeve Ward, Head of Sales, Secured Lending, Shawbrook Bank, added:
“Positive put the introducer at the heart of everything they do, and continuously ask for feedback so that they can improve their market proposition. Introducing this new initiative will set them aside from the competition whilst further cementing their commitment to the intermediary market”.