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Lucky number 13

14 July 2010

As I write my blog it has just been announced that, after a disappointing showing in South Africa, England's World Ranking has dropped to 13th, but 13 isn't always unlucky.

We are pleased to tell you that Loans Warehouse now have access to 13 Secured Loan Lenders – we believe that's more than any other broker in the UK.

Whilst our strikers struggled to find the back of the net in South Africa, we have found over the last month lenders have been moving the goal posts towards us! We have seen several lenders reintroduce desktop valuations, Nemo announced they have increased their maximum LTV to 85% but that's not it.

Link Loans have increased their maximum loan to £50,000 and Norton Finance have reduced their lowest APR to an impressive 11.9%; the market is looking it's most positive since the dreaded 'c' word.

Our squad of 13 lenders contains Norton Finance, a semi-exclusive to Loans Warehouse, Prestige Finance, Central Capital, Black Horse, Link Loans & Nemo to name just a few. We value and manage all our lender relationships and as a result nearly 25% of the loans we completed last month were outside of our lenders criteria, deals other brokers simply gave up on.

Our strong relationships with our lenders meant we were able at times to take a 'common sense' approach to lending and complete deals others simply couldn't or wouldn't - if there is an option out there, we'll have access to it for you and your customers.

But like the best teams we will not rest on last months success. Recently we have been negotiating lower valuation costs and with more and more lenders now accepting desktop valuations again, the cost of processing a loan is dropping. This means we are able to pass on these savings giving our introducers more commission.

Here's looking forward to a long hot summer and more new arrivals to the market.

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