The loan was introduced via master broker Y3S Loans, one of Prestige Finance’s key distributors, which provide advice and support for the wider intermediary community.
Simon Stern, director of Prestige, said: “I am delighted to see our first completion. This is a significant milestone for how far the business has come in such a short time since we became part of the OSB family.
“The new criteria, which was only launched last month, has been well received and the fact that this loan completed so soon after the launch is a testament to the simplicity of the plans and the streamlined underwriting process we have put in place.”
He added: “OSB has been very supportive and we are looking forward to building a significant presence in the secured loan market, doing what we do best, supporting the intermediary with great products and service.”
Barney Drake, director of Y3S, said: “We have had a long and successful relationship with Prestige Finance in the past and were particularly pleased to see its re-emergence as part of OSB. It is particularly notable that Prestige has managed to maintain the same highly experienced in-house team as before, which, allied to its new criteria and underwriting procedures make the Prestige proposition highly valuable to our brokers and its clients.”