Mortgage News
Link Loans relaunches
Secured loans lender, Link Loans, has relaunched with new equity funding from the RBS Special Opportunities Fund and debt funding from RBS Financial Institutions.
Link Loans offers a range of prime secured loan products at up to 75% LTV for employed people and 70% LTV for self employed people, which will be distributed through a panel of secured loan brokers.
Loan amounts will range from £5,000 to £30,000 and loan terms are from three to 20 years. .
Philip George, managing director of Link Loans, said: “We firmly believe that there is improved optimism and confidence in the secured loans sector – a belief that is shared by our funding partners.”
He added: “There is also a further pent up demand to be satisfied, with 33% of mortgage borrowers tied into fixed and tracker rates, a tightening remortgage market, and an increasing number of householders looking for finance to improve and/or extend their properties rather than move house.”
Secured loans V Loans has been chosen as one of Link Loans partners.
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Dave Pinnington, business development director at V Loans, said the products will be a shot in arm for the secured loan industry.
He said “The products are competitive and offer a particular facility for the self employed applicant, who has been worst hit by lack of product choice in the past year. Link’s return, backed by a major UK bank, should provide fresh impetus to our market and really help to galvanise new secured loan lending.”
Specialist packagers Promise Solutions and WLM Money have announced distribution partnerships with Link Loans.
Promise Solutions has launched an online sourcing and quoting facility for Link Loans, available exclusively to Promise’s registered introducers. This will allow brokers to source, quote and package Link products through Promise Solutions.