Equifinance access to be increased

Promise Solutions is enlarging its panel with access to Equifinance.

Following the launch of satellite packaging facilities, Promise is now making more satellite agencies available to loan brokers which it claims can generate “consistent” volume.

Equifinace is a second charge lender offering up to 75% LTV for adverse credit/self-employed loan applications.

Steve Walker, managing director of Promise Solutions, said: “This service has worked very well for a number of loan brokers and has allowed them to complete loan applications which would simply be declined by all other lenders. It’s also good news for the lender as they can focus on delivering a top quality service without worrying about marketing and distribution.

“The pilot has been so successful that we are now taking on more satellite packagers, ideally those medium sized brokers who could place up to a handful of cases per month.”

Kevin Cooke of Equifinance added: “We are very pleased with the way our secured loan product has been received and the way the distribution model is working which means we can now accommodate more completions.”