Nemo Personal Finance has introduced a new range of secured loan products.
The secured loan lender has reduced the minimum credit score on its 85% LTV product and increased the LTV on several other products.
Meanwhile, it has re-introduced a ‘one unit plan’, a product that hasn’t been offered by Nemo since the credit crunch.
“The introduction of these new products provides confirmation that Nemo remains firmly committed to the secured loan industry and to its broker network,” said Sam Marshall, joint managing director of Nemo Personal Finance.
“We anticipate that the introduction of these products will create an additional £4m – £5.5m per month of new origination which based on current statistics, represents a 20% growth opportunity for the market.”
Matt Tristram, joint director of Loans Warehouse, added: “There are a handful of secured loan lenders really driving the industry and Nemo are clearly one of the market leaders.”