Secured Loan master broker Promise Solutions has announced an increase in LTVs and lower interest rates on Nemo Personal Finance secured loans.

These secured loan products can be accessed through its secured loan sourcing platform Promisequote and the changes will be effective from 2 November.

Steve Walker, managing director at Promise, said: "The LTV has increased from 75% to 80% but, perhaps more importantly, the credit score has reduced so more secured loan applications should be accepted. In addition the secured loan bandings have changed so Nemo secured loans between £15,000 and £25,000 will be cheaper. This is a great package from Nemo and the combination of lower rates, better LTVs and increased acceptance rates sends a very positive message to the secured loan market and enhances Nemo’s position as one of the major players for secured loans."

Walker added “Having spoken to many secured loan brokers recently, there is still a clear misconception that secured loans can generally not be placed. Intermediaries need to make a point of finding out more and decide for themselves rather than rely on the word on the street. At Promise we have seen a 40 per cent increase in secured loans being placed including self-cert, adverse and prime products. The new Nemo secured loan criteria will improve the situation further. Most intermediaries continue to ignore secured loan opportunities everyday and are missing out on significant income and potentially neglecting to fully explore available options on behalf of their clients.”

If you require finance in the form of a Secured Loan, Personal Unsecured Loan, Business Loan or Bridging Loan please give us a call at Choose Loans on 0845 862 0524 or click Apply Now and complete our simple 30 second enquiry form and one of our experienced loan advisers will call you back to discuss your loan requirements.

Posted 28/10/2009 11:24:36