Review: Pink Pig Loans Ltd
Comment
By AMBER PRITCHARD
Pink Pig Loans are one of Wales smallest yet most influential brokerage companies specialising in secured lending. The company created in 2006 consists of only six employees, including Managing Director, James Rainbird, who took complete ownership and control of the company in 2007 as part of a management buyout acquisition. A decade of business will be celebrated this coming September so we take some time to review what the company has to offer and how it’ s managed to be so successful from its start during the financial crisis into the upcoming boom of the specialist lending sector. As an ex Executive Committee Member of the Association of Bridging Professionals, Pink Pig Loans work across the UK with brokers and intermediaries throughout their clients’ entire process to ensure a transparent service. They offer secured lending products ranging from £ 3,000 to greater than £ 2.5 million for a traditional second charge loan and from £ 25,000 up to £ 25 million for Bridging Finance Solutions. The Cardiff-based company were recently granted full consumer credit permissions by the Financial Conduct Authority( FCA). Rainbird said:“ The FCA authorisation will allow us to embark on our aggressive growth plans to take on new staff and clients and become the authority of finance in our region. It allows us to take the business to the next level, and I am hugely excited to see our hard work translate into further success across the next 12 months.” Pink Pig Loans strive to be the best offering unique selling points, such as their‘ same day decision’ policy where they aim to respond to enquiries within one hour. Their secured loan to value rates( LTV) are as high as 95 % and repayment options from 5 to 30 years. The unusual trait that keeps this Pink Pig top of the competition is that their underwriters asses applications on individual merit. Clients who have high equity, but a poor credit rating can still access funds. This aims to ensure clients with bad credit or credit difficulties, such as mortgage arrears, defaults or CCJs, can still get the bridging solution
they need.
Above: Pink Pig team © Pink Pig Loans
© Wikicommons
Comment: The Brexit impacts
By AMBER PRITCHARD
It’ s the question everyone is thinking about right now, whether they know it or not: Are we better off out of the EU? The vote on Brexit will soon be upon us, 23rd June to be exact and it’ s no wonder the economy is frantic about what financial implications this could impose. Some businesses believe membership is in‘ national interest’ such as The Confederation of British Industry due to the EU being a market of around half a billion people that accounts for half of all UK exports, other than this they believe are no credible alternatives but to stay together. Last month The Bank of England’ s Financial Policy Committee( FPC) met to discuss the referendum calling it the“ most significant near-term domestic risk to financial stability” when referring to the uncertainty associated with possible effects on the cost and availability of credit. They also said that uncertainty has been most marked in the derivatives market, the sterling spot and options markets, which could have a
knock-on effect for consumers. Although there are suggestions from the Remain Campaigners that if we left the EU mortgage, interest rates would rise because lenders would not react well to the uncertainty it would bring to financial and capital markets. At the FPC meeting Bank of England Governor, Mark Carney, noted the importance of buy-to-let market as a big concern because growth in mortgage lending is now being driven solely by the buy-tolet sector.” But, what does tall of this mean for mortgage advisors and stakeholders? Borrowers considering their product options may be left wondering their worth. For example, remortgaging sooner rather than waiting for a potential leave vote and the projected rate rises? This could lead to a spike in the market over the next two months as individuals look to take advantage of a low-interest rate environment which may well be impacted by a vote to leave in June. Due to potential borrowers seeing the referendum deadline of June 23rd as another deadline similar to the effects of when the stamp duty changes were brought in.
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