Evolution Money launches second charge range
Evolution Money has launched a second charge range.
Rates start at 9% with no consent required on loans up to and including £50,000.
Recent missed mortgage payments are accepted on the full range of loan products with additional householder income considered and self-employed customers accepted.
Loan-to-values (LTVs) up to 140% are being accepted, with no previous mortgage history required.
The range is available to those who have missed mortgage payments during 2020, seen a change in employment status or have had their credit score adversely impacted since their pre-COVID mortgage application.
Kerri Pender (pictured), operations director at Evolution Money, said: “We are pleased to bring this new range of products to the market which we believe are highly relevant for the circumstances in which many borrowers find themselves in during 2021 since the onset of the pandemic last year.
“We have listened carefully to the marketplace and it is clear that many brokers demand innovative and more flexible lending criteria to assist clients raising finance through a second charge product.
“We approved more than 5,000 second charge loans last year and we predict we will see an increase in approvals this year.
“2021 is going to be a big year for the second charge lending market and we have further growth and development in the pipeline as our business continues to evolve.”