Secured Loans Consulting is now offering a 90% LTV second charge product available up to £15,000. It is being funded by an unnamed lender, which SLC says is new the marketplace.
Employed applicants over 25 years of age only will be considered.
Richard Croll, new business manager at SLC, said: “This new product is a sign that confidence is slowly returning and it’s almost unbelievable to see a 90% product after so long since the likes of Paragon and First Plus left the market. 
“We feel this product will assist those borrowers who have been declined on LTV in the passed, because its been an 80% market up until recently, and those brokers who have kept databases of declined cases should revisit these applications and asses their suitability.”
Homeowner Loans and Secured Loans took a massive hit during the credit crunch with, as Richard Croll mentioned, Paragon and First Plus leaving the market. The likes of Southern Pacific Personal Loans also left. This is a welcome sign that offer customers another option rather than paying large redemption charges to re-finance their mortgage for finance they need.
The UK Finance market has, like the rest of the world, been hit hard with the global recession with Payday Loans the only real product that has emerged unscathed. Therefore, this is good news.
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Thank you for this real interesting article. Good job!
Really nice post here – I don’t know why you don’t just get the most out of these tools whilst they are free