Specialist second charge and secured business loan lender, Finsec, has added its criteria to the Knowledge Bank platform.
Knowledge Bank holds the full criteria of over 250 lenders and has over 125,000 individual pieces of criteria.
Finsec’s speciality is providing loans to small businesses who may have been rejected by mainstream lenders and individual borrowers with non-standard or complex income and credit profiles, where the proposed borrowings combined with the amount owed to their first mortgage lender does not exceed 70% of their residential property value or 65% on semi-commercial or buy-to-let.
Finsec provides second and third charge lending up to £150K on repayment terms of up to 15 years.
Kevin Cooke, managing director at Finsec, said: “We are delighted to be able to join Knowledge Bank to bring our specialist lending products to an even wider audience of professional brokers and intermediaries.
“Introducers who have experienced our service tell us they like our same day decisioning, streamlined process (we can complete a deal within five working days), flexible terms, minimal early redemption charges and instant commission payments as being the reasons why they use us.”
Matthew Corker, operations director of Knowledge Bank, added: “We are excited to have partnered with Finsec, showcasing their entire range of second charge and commercial criteria on Knowledge Bank.
“Finsec’s common sense lending approach coupled with non-automated decision making means they can consider cases other lenders won’t and even cases that have been declined elsewhere. We are sure they will be a popular addition to our system.”