Record month for Freedom Finance

Published on

june2013

Freedom Finance has reported a record month in June.

Last month saw over £10.7 million worth of loans completed through Freedom Finance’s soft search loan system.

The firm says these results highlight a significant increase in consumer appetite for both unsecured and secured lending products and better options being offered by lenders.

Freedom Finance’s year-end results for financial year 2013 also revealed a 40% increase in profits compared to the previous year.

Nicola Georgiou, managing director of Freedom Finance, said: “Lenders are starting to offer better options for borrowers, which is leading to a significant uplift in consumer appetite for loan products. We see this as an indication that consumer confidence is growing and that the economy is starting to show signs of recovery.

“Lower rate lending products are great news for consumers but borrowers need to be wary of the pitfalls. Simply applying for the lowest rate loan on a traditional comparison site can damage a credit score so applicants should make sure they use ‘soft search’ sites, which find the best rate for their individual circumstances without having a detrimental impact of their credit rating.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...

Nationwide ups LTV limits for interest-only and foreign national borrowers

Nationwide has announced changes to its mortgage lending criteria, increasing the maximum loan-to-value (LTV)...

Other news

Bank of England expected to hold interest rates at 4.5% amid economic uncertainty

The Bank of England is widely expected to maintain interest rates at 4.5% when...

£6.5k bill for homebuyers who miss stamp duty deadline

Rent and mortgage spending rose 7.7% year-on-year in February, as more homeowners moved from...

Advice Guru partners with Pure Retirement to support broker education

Financial adviser learning platform Advice Guru has announced a new sponsorship partnership with Pure...