Capital Link, the North Wales-based packager and bankruptcy remortgage specialist, recently launched a service to the intermediary market providing a facility to negotiate with trustees and their solicitors on behalf of bankrupt clients who are facing the repossession of their property in order that the trustee may settle their outstanding debts. Capital Link then sources a suitable mortgage product to finance a remortgage to conclude the deal.
The appointment of Money Partners to its panel comes after record bankruptcy figures were published by the Department of Trade and Industry (DTI).
54,227 people are reported to have entered into an Individual Voluntary Arrangement (IVA) in England and Wales in the last 12 months. This represents the highest-ever number of personal insolvencies in a 12-month period.
Tony Hagerty, principal of Capital Link, said: “Our primary concern is to make sure that our lender panel represents the best that the lending industry has to offer. Money Partners has had a huge impact on the market and we are very pleased to have its products available for our brokers. We are looking forward to working with Money Partners in the coming months.”
Jim Nash, corporate account manager at Money Partners, said: “Money Partners is keen to work with packaging partners who have the attitude and professionalism to bring our products to the broker community. Capital Link has a very innovative service to offer the intermediary market and as a company is a very good fit for us.”
