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Secured Loan The


ebrates best year since 2009


Maeve Ward, head of sales, secured lending, Shawbrook Bank


“Shawbrook Bank was very successful in 2012 and has very ambitious growth plans for 2013. Our key partners are at the heart of everything we do and we will continue to work closely with them to develop new, innovative products, systems and processes to strengthen our position in the market and assist with what has been continual growth in 2012. “2013 will see more secured loan providers entering the market, which will spark healthy competition and in turn provide consumers with a wider choice of products. The secured loan market is an exciting space to be in right now and the future is bright.”


Luke O’Sullivan, new business manager, Equifinance


“2012 definitely saw a resurgent second charge lending mar- ket, buoyed by new entrants early in the year providing niche products that add to those already available from the existing lenders and enabling intermediaries to help more customers than in previous years.


“Equifinance lent in excess of £1.5 million in 2012 and plans to quadruple this in 2013. With multi-million pound funding secured via a mix of private investors and the successful launch and first close of the Equifinance Loan Fund we are looking forward to supporting even more intermediaries this year.”


Stuart Aitken, chief operating officer, Masthaven Secured Loans


“We could not possibly be happier with the response since we entered the market. In a sector that is looking forward to an in- creasingly positive future, specialist secured brokers have been universally supportive of our initial product and service. Volumes are steadily increasing and, having already passed our first £1 million of total lending, I expect us to hit our first million pound month early in 2013.


“Whilst the implementation of changes brought about by the new regulatory regime that is just around the corner will be challenging, even for those of us who are already FSA autho- rised, there are many potential positives in the harmonisation of secured lending with first mortgages as a result of the MMR. The secured lending community is already demonstrating that a range of second mortgage options is vital to the consumer, and I look forward with keen anticipation to the rest of the year.”


Paul Stringer, director, Norton Finance


“Many of our lending partners have been discussing the positive changes to criteria they intend to make this year; these changes are likely to be both an improvement in interest rate for some lenders and an expanding of criteria for others. This has been combined with more upbeat conversations around the interest funders may have in the second charge industry next year.”


Graph


“Brokers need to fully understand the benefits of secured loans so that they can deliver well- informed advice to their clients”


Table 1: Total Annual Lending (£m)


566m 2009


277m 2010


286m 2011


Sources: FLA figures, 2009-2011; SLI figures, 2012 SECURED LOANS 2012 TIMELINE


July 2012 Lending at £32m 14.3% on 2011


August 2012 Lending at £24.9m 44.2% on 2011


September 2012 Lending at £31.4m 8.3% on 2011


October 2012 Lending at £31.9m 38.7% on 2011


November 2012 Lending at £34.3m 22.5% on 2011


December 2012 Total lending predicted


to hit £350m MORTGAGE INTRODUCER JANUARY 2013 MORTGAGE INTRODUCER MARCH 2012 39


327.1m 2012


1 2 2 3 3


Sources


£(M)


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