Norton increase maximum loan size to £30,000

New product changes as follows:

- Maximum Loan Increased to £30,000

- Maximum LTV Increased to 75%

- New Charge Rate from 10.90% Annual Rate

- Lender Fee Reduced to 2.50% (minimum fee £295)

- No Minimum Income (exception Gold Plan £25k)

- 100% Pension & Benefit Income Accepted

- To keep it simple only 5 Plans that offer loans from £3,000 to £30,000  

- Loyalty Points earned on completions over £10,000 if processed via Norton Broker Services.

Scott Thorpe, Broker Liaison Officer  from Norton Broker Services, said:

"I am delighted with the changes made by our own lending company and in particular the new rate of  10.90% which is great news. I believe this once again reflects our common sense approach to lending."

Stephen Lawrence, Group National Sales Manager of Norton Finance UK Ltd, said:

"The lending criteria changes plus our award winning processing service that delivers a high proportion of DAY 1 payouts will attract more business from the Intermediary Market Place,

"The introduction of only 5 Secured Loan Plans, that offer loans from £3,000 up to £30,000, will streamline the process and make it very much simpler for the Broker to complete a loan application with Norton Broker Services.

"As long as the LTV is not breached, unlike many other Secured Lenders, there is no need to re-issue a new loan Agreement on a different often more expensive Plan if there are changes to the valuation or mortgage amount borrowed."