Prestige Finance has announced changes to its packaging process.

The secured loan lender, which is part of OneSavings Bank, has introduced Hometrack AVMs for loans up to £50,000 and 50% LTV.

Meanwhile, drive-by valuations will available for all loans up to £50,000 and 70% LTV.

Simon Stern, Director at Prestige Finance, said: “Just five months ago, under the ownership of OneSavings Bank, we rejoined the market with a new range of prime loan products and in that time, our introducers have provided fantastic support and really got the message out to the market that Prestige was back. We have also maintained and encouraged a two way dialogue with them, which has enabled us to respond to concerns and plan for enhancements to both products and criteria.

“Thanks to the support of OneSavings Bank and their understanding of the importance and potential of our sector, we have been able to rely on great feedback to put many positive changes in place. Prestige is an evolutionary lender and our goal is to make sure we are constantly enhancing our products and service.

“This latest development is just another example of the collaborative partnership between One Savings Bank, our introducers and us.”

Paul Crewe, director at Smart Money Loans, added: “Without compromising the quality of their security, Prestige has made their proposition that much more attractive by simplifying the packaging process.

“Not only does it shorten times to completion, but it sends out a positive message to brokers and clients alike that Prestige Finance is determined to lead rather than follow the market.”