The Manchester-based company is targeting consumers directly as well as packaging cases for mortgage brokers referring business.
Chief executive Paul McGerrigan (pictured), formerly of GE Money, designed the technology which sits behind the website which he said will make his proposition market leading.
“Our unique selling points will be the efficiency in processing applications, a brand recognised by the consumer and exceptional service.”
Conscious of the forthcoming European regulations which will unify the first and second charge markets under one set of rules, McGerrigan has built his firm’s technology with the capability to evolve.
“I’ve designed our system to be flexible so we can add other products to our suite if that is the direction which the Financial Conduct Authority wants us to evolve in but as yet no one knows what the final picture look like, but we are confident we will be ready.”
Secured loan lending continued to grow at a healthy pace according to statistics produced by Loans Warehouse. November’s lending reached £53.3m which was 12% higher than November 2013. And while volumes were 13% down on October, Loans Warehouse director Matt Tristram said October was an exceptional month and he expected this year to produce even stronger results.
“It’s our opinion that lending figures above £60,000,000 will become the norm very early in 2015,” said Tristram.
