The secured loan is available at a rate of 7.89 per cent for loans up to the value of £150,000 with the rate fixed over the next three years.
The deal will be available until 5 April 2008, with borrowers liable for early redemption charges during the initial period. In year one the charges are 7 per cent, then 5 per cent in year two followed by 3 per cent in year three.
There is also the option of a three-year fixed self-certification secured loan, available at a rate of 8.39 per cent.
“This is a cracking deal at a time when demand for secured loans is set to increase due to an increase in demand for debt consolidation immediately after the festive season," explained Mat Manser, sales director at Secured Loan Services.
"This is a great opportunity for mortgage brokers to build an additional income stream via secured loans. Coupled with a self-certification option, the product should appeal to a wide cross-section of borrowers.”
