Poll
Secured loan criteria changes for Blemain and Norton
Norton Finance has announced a number of changes with its unique lender Blemain Finance.
The following changes have been made:
• Lending now up to £500,000
• LTV’s now to 77.50%
• Unlimited Adverse Plan now available
• No Minimum Property Valuation
• Now Lending to Ex-Bankrupt & IVA Clients
Scott Thorpe, Broker Liaison Officer from Norton Finance, said: "We are delighted with these changes made by Blemain Finance.
“The huge increase in lending on Secured Loans from £100,000 to £500,000 is a major improvement along with a reduction in their nominal rate to 10.95 per cent.”
He continued: “This makes it a great alternative to a borrower who is either currently tied into a mortgage with a high Early Repayment Charge or who has a low Standard Variable Rate and doesn’t want to move away from this.
This makes it a hat trick of changes by three major lenders within the past week showing that the Secured Loan Market is on the up and the perfect alternative to a remortgage.”
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