Swift enhances product criteria

Ramesh Sharma

March 11, 2006

The lender has enhanced its loan-to-value (LTV) to a maximum of 80 per cent across its first and second charge ranges, provided there is sufficient evidence the last three months payments have been made. Swift has confirmed this criteria will be regardless of borrowers accrued arrears.

Zena Campbell, sales manager at Swift, said the changes to the product ranges would benefit brokers, and are one of many steps being taken to broaden the lenders general market appeal. She said: “These changes show that Swift continues to offer great value to intermediaries and their clients in this important niche. This is one of many recent reappraisals of our products and there will be more enhancements to come.

Swift has always let its service do the talking, and this, added to the product and criteria changes, means we are creating an unbeatable combination which will appeal to a wider range of intermediaries concentrating in the non-conforming first and second charge markets.”

Kim Barrett, proprietor at KS Barrett & Associates, agreed the product improvements would introduce the lender to a new set of brokers and borrowers, if the proposition was right. He explained: “From a positive per-spective any enhancements made to products are good for the marketplace. However the cynic in me says that it is widening its terms after a quiet period of business.”

Overseeing the changes to the core product range is recently appointed chief executive John Webster, who has been given the task of assessing the group’s sales and marketing strategy. He will also be responsible for the future growth of Swift, with product enhancements key to the lender’s plans.

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