Portal secured loan attracts new funding
Portal Portfolio’s programme has proved popular with pension investors looking for stable returns and is thereby creating a surplus, which can be used to fund loans to all borrowers. Borrowers are still welcome to invest in the pension element, which pays 4% net, should they wish to.
The secured personal loans are marketed via intermediaries and are available with rates for loans from £10,000 – £75,000, secured on main residences or buy-to-let/investment properties.
The loan offering is currently proving popular with both buy-to-let borrowers and professional people looking to borrow without affecting their existing preferential first mortgage rate. Often this is to provide a deposit for their children’s first house.
Commenting, Tim Moore, managing director of Portal Portfolio said: “The Secured Loan and Pension attracted a great deal of interest and by originally structuring the product to include a pension we were able to launch the product without the need to rely on external investment. The success of the pension fund has now attracted new funding and this allows us to offer our loans to all credit worthy borrowers.”