In the move to enhance its panel of second charge providers, Trustguard’s addition of Money Partners brings the number of lenders on its panel to 13.
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As part of the Money Partners offering, the range has no minimum trading for the self-employed, with all unsecured credit ignored. Second-charge on buy-to-let properties is also allowed, with lending available to those up to the age of 85.
Sian Brown, national sales manager at Trustguard, admitted the secured lending market had grown considerably over the past three months.
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She said: “Secured loan applications were up 28 per cent during Q1 2007, compared to the same period last year and we are determined to continue building sales in this booming area. Money Partners’ flexible approach to criteria will broaden our appeal and help us to meet our targets this year.”
Kim Barrett said: “There is so much ability to place mortgage business that I can’t believe in the current market that people need to worry about second charge, even if it’s for debt consolidation. Why push your client down that route, when there is so much first charge money out there?”
