“As we grow the business it’s vital that we draw on the resources of such an experienced professional as Simon,” said Tony Marshall, Equifinance managing director.

“He has an excellent rapport with the team and the benefit of his input is already being seen as a positive change.”

Equifinance caters for customers who have experienced financial difficulties in the past by helping them to access products in the second charge market.

Stern (pictured) said: “I very much look forward to strategically positioning the business with introducers and broker partners to ensure the new products and distribution channels are clearly aligned and sustainable service levels are achievable as lending volumes increase.”