View more on these topics

Loanoptions.co.uk highlights danger of limited lender panels

Loanoptions.co.uk has highlighted the danger of dealing with secured loan packagers with limited lender panels.

This comes after both SPPL and Kensington have temporarily pulled out of the secured loans market.

Managing director Andy Moody says: “While it is a shame to see any lender exit the market, intermediaries need to look carefully at whether their current access to lenders gives them enough latitude particularly when a lender exits the market or makes big changes to criteria. With the danger that other lenders could pull out or restrict their lending, it is in intermediaries’ best interest to work with packagers like Loanoptions.co.uk, which can offer the widest range of lenders. “

He adds: “Apart from the obvious best advice implications, dealing with a packager offering a true whole of market lender panel means that there are other lending choices in the event that another SPPL exit happens.”


Recommended

Crunch the numbers

A pension lump sum gives a client the opportunity to lift the burden of a mortgage

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com