1st Stop Group to roll out 90% LTV loan in April

by: Christine Toner
  • 23/03/2017
  • 0
1st Stop Group to roll out 90% LTV loan in April
1st Stop Group’s recently-launched 90% loan-to-value (LTV) second charge product will be rolled out to the wider market next month, the lender has revealed.

The loan, which features a rate of 9%, was launched earlier this week exclusively through Fluent for Advisers.

Laura Walters, head of business development at 1st Stop Group, said the lender plans to roll this product out to the rest of the market mid April.

The product is available for loans up £50,000 and on terms from 24 months to 300 months.

Walters added: “1st Stop has conducted a lot of market research and found that the market was penalising good customers with little equity by offering high rates. We expect to see a good take up.”

Simon Moore, director, Fluent Money said: “I have been working on this product for over nine months with 1st Stop. There are high LTV products in the market already, but the increase in interest rates being charged between 85% and 90% for the same clients was significant.”

There are 0 Comment(s)

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
Mike Jones
Know Your BDM: Mike Jones, Alternative Bridging

This week Specialist Lending Solutions is talking to Mike Jones, London BDM for Alternative Bridging Corporation.

Close