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New finance solution for property owners

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New finance solution for property owners

New funding has allowed a secured lender to offer a new loan scheme.

Portal Portfolio, part of the Portal Group of companies, is offering the loan to property owners, after the success of the pension schemed launched in November 2010. The loan enables consumer’s access to up to£70,000 credit.
Commenting on the launch of the new scheme, Tim Moore, Managing Director of Portal Portfolio said; “The Secured Loan and Pension attracted a great deal of interest and by originally structuring the product to include a pension we were able to launch the product without the need to rely on external investment. The success of the pension fund has now attracted new funding and this allows us to offer our loans to all credit worthy borrowers.”
The loan is being offered secured on main residences or buy-to-let and investment properties. This new type of loan has become possible due to the surplus of funds generated through the pension programme.
Loans of £10,000 to £75,000 can now be obtained through Portal Portfolio by intermediaries. The product allows the client to borrow money, to fund investment or residential endeavours without affecting their existing first mortgage rate.
The new scheme gives those with money tied up in property another funding option. Marketed by intermediaries the loan could benefit both borrowers and investors.

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