Home Trust Loan set to reach £1m lending high
Portsmouth-based finance company, South Coast Moneyline is celebrating the New Year after recording a dramatic increase in lending during 2010. Over the next few months, the socially responsible lender is on track to have lent £1million of affordable loans, £800K of which has been achieved in the past year.
The not-for-profit organisation, which has been delivering the Home Trust Loan since 2006, works in partnership with several local authorities and attributes the successful year to the difficult financial climate which is forcing homeowners to seek alternative means of financing their home improvements. The loan is particularly popular with those on a fixed income, such as pensioners and people with disabilities, as the low interest rate is fixed at a guaranteed 5.1% APR for the full term of the loan and repayments are tailored to suit each individuals’ budget. South Coast Moneyline also recently launched their Eco-Improvement Loan which will allow homeowners to make eco-friendly adaptations to their homes as well as improve heating and insulation. Speaking on the company’s achievement, Simon Frost Chief Executive of South Coast Moneyline, paid credit to his team for the rapid growth and increasing interest shown in the Home Trust Loan. He commented: “I would also like to thank our customers for making use of our services. 2011 is likely to be another challenging year and the team at South Coast Moneyline is ready to work with participating local authorities to deliver further financial assistance to the people in the community who most need it.” He also added that clients are increasingly recognising the value of the tailored service and the easy repayments being offered by the company. Simon noted that since its inception, the company has not had one account in default or any missed payments. South Coast Moneyline works in partnership with 15 local authorities across the South. For more information, or to find out if your local authority is part of the scheme, visit www.hometrustloan.org.uk or contact your local authority. You can also follow Home Trust Loan on Twitter.
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