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.
The lender launched its second charge lending division in 2017.