Equifinance 75% LTV adverse panel to be extended

Following the successful launch of satellite packaging facilities, Promise is now making more satellite agencies available to experienced loan brokers which can generate consistent volume.

Equifinace is the only second charge lender offering up to 75% LTV for adverse credit/ self employed loan applications. The lender has chosen to tightly control distribution but has permitted Promise to allow a number of preapproved loan brokers to fully package loan applications using Promise to control the volume and quality of submitted cases.

Steve Walker, Managing Director of Promise said:

“This service has worked very well for a number of loan brokers and has allowed them to complete loan applications which would simply be declined by all other lenders. It’s also good news for the lender as they can focus on delivering a top quality service without worrying about marketing and distribution.

"The pilot has been so successful that we are now taking on more satellite packagers, ideally those medium sized brokers who could place up to a handful of cases per month.

Kevin Cooke, of Equifinance commented:

“We are very pleased with the way our secured loan product has been received and the way the distribution model is working which means we can now accommodate more completions.