In the longer-term business volumes have increased. In the three months to December they were up 7% from the year before, while in the year to December 2017 there were 10% more second charge cases.
Loans Warehouse has a number of second charge lenders on its panel, as mortgage brokers will be able to search updated criteria from 400 second charge loans.
Gopee’s ran a money lending business from August 2012 to December 2016 despite neither having a consumer credit licence from the OFT, nor any authorisation from the FCA.
The Committee also voted unanimously to maintain the stock of UK government bond purchases.
It’s been a week of change at the bank, with the departure of Maeve Ward, who played a key role in building Shawbrook’s second charge business, and the announcement that managing director of commercial lending Stephen Johnson is taking a career break.
Masthaven’s rates start from 3.74% to 75% loan-to-value for loans between £10,000 and £750,000.
Shawbrook CEO Steve Pateman: “You have lost confidence in us.”
Rates start from 4.5% and products cater for customers with an impaired and improving credit history, those with a short work history, customers with a low credit score and also later life borrowers.
Vantage will retain its location, staff and name but will look to accelerate growth with the help of the wider group.