Pink Pig Loans (PPL) has completed a £900,000 loan for Optimum Credit on a second charge basis for business purposes.
The application was referred to the Penarth-based secured loan specialist by a broker from London for a high net worth client who was unable to remortgage due to high ERCs on a 10-year fixed mortgage deal or raise a further advance with his private bank mortgage. The loan completed on a rate of 6.99% at 65% LTV with no ERCs. The broker has referred several specialist applications to PPL over recent years.
James Rainbird, Pink Pig Loans’ managing director, said: “This is typical of applications we regularly receive, although in this case the advance was much higher than normal.
“Our team has a strong reputation for reacting quickly to requests that are outside the box and in this case business development manager Sarah Stroud (pictured) and together with the team at Optimum Credit, she pulled out all the stops to make this deal happen. I couldn’t be prouder right now.”
Simon Mules, Optimum Credit’s commercial director, added: “The team at Optimum Credit are very pleased to have played our part in completion of our largest loan payout since our launch, which would have not been possible without the expertise shown by the staff at Pink Pig Loans.
“Sarah Stroud and Jenna Whitchurch have seamlessly liaised with both the customer and our internal team to satisfy our requirements as a lender. It’s all too easy to make larger loans more difficult, but the experience of the Pink Pig team coupled with Optimum’s desire to work closely with the broker community just goes to show that if everyone is pulling in the right direction these enquiries can be dealt with swiftly for the customer and introducing broker.”
