Victoria received its FSA regulation earlier this month and has now started to sell its products in this burgeoning marketplace.
Matt Grayson, Chairman of Victoria Mortgages, said: “We are delighted to have completed our regulatory approval process and successfully met our launch target. Victoria has very exciting plans to transform this marketplace and we believe we will bring the sub prime industry forward by 10 years. We see enormous potential for a sub prime lender which takes a positive attitude in helping individual borrowers meet their housing needs. Victoria will lend on more property types than any other non-conforming UK lender and recognises the full combined income of two income families.”
Kevin Hillgren, Victoria’s CEO added: “We have designed our products and processes to be very straightforward for the broker community. This will, in turn, allow them to provide clear advice to their customers. Our market-leading service has also been designed specifically to enable us to turn around mortgage approvals for non-standard property types as rapidly as traditional applications.
“We have already received a very strong flow of enquiries and applications have greatly exceeded expectations.”
