The adverse credit product for higher LTV applications is for clients who Promise said may have too much adverse credit for most other lenders and they only require a small advance.
First Stop Finance and Evolution Loans also lend in this space, said Promise, but Equifinance Plus can provide accurate quotations at the outset and allow Promise and advisers to control the sales and packaging process.
Steve Walker, managing director at Promise Solutions said: “We are pleased to again be the first packager to bring a new lender to market. Brokers can now source accurate quotes from Equifinance Plus as well as every other lender in the sector and Promise can now provide Equifinance Plus written loan agreements and detailed information for brokers to discuss with their clients. We know that this is something brokers want.”
Equifinance Plus can accommodate mortgage arrears, defaults and CCJs in the last six months with LTVs up to 100%.
