Master broker Promise Solutions is offering more satellite packaging agencies to experienced loan packagers.
This follows the decision by Equifinance to raise the ceiling for its maximum loan from £15,000 to £20,000.
“Equifinance’s recent changes make their product even more attractive and satellite packagers can now access all Equifinance products and retain 100% of the fees,” said Steve Walker, managing director of Promise Solutions.
“Equifinance will accept loans which others can’t do. It is the only lender which will consider heavy adverse up to 75% LTV and doesn’t unduly penalise borrowers in lower value properties, ex council houses or those offering semi commercial properties as security. Whilst affordability is paramount, Equifinance also take a more flexible approach to the proof of income required.”
Kevin Cooke of Equifinance said “Since launching last year we have experienced tremendous success and are pleased with the performance of the loans we have funded.
“Whilst we have accepted some cases up to £20,000 by exception we are now pleased to make larger loans a feature of our product range and available to all introducers.”
Walker added: “We welcome calls from introducers and potential loan packagers to discuss how this lender can benefit their clients. Loan packagers wishing to gain access to Equifinance can register via Promise to get criteria, access to lender documents and packaging guidance.
“Introducing brokers can also offer their clients products from Equifinance and 15 additional lenders by registering with Promise as an introducer.”