New lenders in the UK Secured Loan market

Over the last year the secured loan market has gone from strength to strength, the market has once again become highly competitive and we are starting to see some really appealing products as companies battle for the top spot. The latest two lenders to enter the market have each have very different selling points and market audience. Precise who are best known for their highly competitive and revolutionary bridging loans and mortgages and Firmus who is the new kid on the block, but don't let that façade fool you! Firmus may be the new kid on the block but the product it offers certainly packs a punch and offers rates and terms that others dare not. Both have very different offerings they both offer something that competitors will certainly prick their ears up to; Firmus offers something for those with adverse credit in the past that have managed to turn things round in the last 12 months:

• Loans up to £100,000
• LTVs up to 75%
• Rates from 15%
• Self employed (min 12 months being self employed)
• No more than 2 missed mortgage payments in the last 12 months
• All other adverse 12 months ago and older ignored

Precise aiming at the prime end of the market as that is exactly what they do best:

• Loans up to £1,000,000
• LTVs up to 85%
• Rates from 5.45%
• Min property valuation £100,000
• Any legal loan purpose considered

So will we see a shift in the entire market over the next six months? Who can tell at this stage but it is certainly very encouraging to see these companies entering the market ready to take them all on. At Choice Loans we can help you with your secured loan as we have access to the full range of ALL the lenders in the UK ensuring you get advice on what is the bet option for you. To contact us about your secured loan please either call us on 0845 1260350 or complete our Secured loan enquiry form here and we will call you.