Secured Loan Titbits #1
Here’s a quick round up of today’s Secured Loan titbits
Loanoptions has launched an updated website with a marketing toolbox and the added ability of being able to track secured loan applications on-line
Residential 1 has announced a secured loan packaging deal with Connect’s 1200 members - if you don’t know already, Connect is the largest group of Independent Mortgage brokers in the UK.
The Finance Centre has said it has seen a 34% increase in secured loan enquiries in the last six months compared to last year.
And finally…..
Some time ago I reported the Post Office had released a competitive PPI product. At the time I was concerned it could eat into the second loan PPI market because it was cheap, had good press coverage and marketing and gave cover for ‘bad backs’ and ’stress related illnesses’. Well I’m doing some more digging but it appears the product isn’t quite as attractive as I originally imagined. One of the problems is that claims are paid direct to the claimant rather than to the provider of the secured loan, unsecured loan, mortgage or whatever. This means that in the eyes of the DSS the money is seen as income.
