Loan Company Offers Outlet For Personal Loan Brokers
Over the course of the past six months or so, it has become increasingly difficult for a potential borrower to obtain the personal loan they require, as the number of loan providers is diminishing all the time, limiting the choice of products.
As a result of this, many people are now turning to personal loan brokers to help them find the best deal to suit their own personal needs, but even the broker market is suffering as lenders continue to withdraw from the market, due to not having the money themselves, to be able to offer any new loans.
We have reported on several occasions over the past few months on loan companies which have closed their doors to new business due the current economic conditions.
But now, as another two companies, Money Partners and Paragon personal finance, have announced that they will be stopping taking new loan applications from the end of this month, one company has announced its continued commitment to the personal loan business.
Blemain Finance, part of the Cheshire Mortgage Corporation, has offered to help those brokers who may be struggling to place new loans for their clients. Blemain offer a range of secured loan products, from prime lending to heavy bad credit loans, including self certification and non conforming cases.
Gary Bailey of Blemain said “Some recent coverage of these withdrawals has mentioned the lack of alternative lenders, however Blemain group are still very much open for business.
It is sad that, due to the capital markets and prevailing economic conditions, more lenders have felt it necessary to pull out of their respective markets, making life even more difficult for intermediaries who are struggling to place business. Given these circumstances we would like to assure our brokers once again that Blemain Group remains wholly dedicated to the market, with funds to lend and an appetite for new business.”
