Select evolves to offer a complete finance solutions service.
Mortgage packager, The Select Partnership, has developed new facilities to support their established packaging and secured loan arm to offer a more comprehensive service to introducers.
As from April 14th 2008, Select will be offering debt management and factoring services to their introducers in order to provide an all-round finance solutions service.
Shaun Vickery, Managing Director for Select says "We have always striven to maximise our services to our introducers. When it became apparent that all was not well in the lending market we thought and planned carefully about how we were to develop. These new initiatives give our introducers new areas in the market to exploit for their clients, supported by our renowned service and expertise".
By providing a debt management service, Select is creating further opportunities to help clients beleaguered with unsecured debt who may not be able to get a remortgage due to their financial circumstances. Instead of turning a client away, Select can negotiate the debt to secure enough equity and affordability to sustain a mortgage or simply to help manage the debt itself.
Select’s Business Development Director, Dave Gould, enthuses "We have invested much time and training in our debt management and factoring initiatives, and feel very confident about its benefits to our introducers' clients. Our Operations manager ran the debt management side for MBNA here in Chester and we have combined with one of the country's leading factoring plcs to provide the funding we require for our introducers"
Factoring is seen as a cash-flow godsend in a time when overdraft facilities and extensions are hard to come by. Designed for companies with turnovers between £200,000 and £20,000,000, factoring is an alternative to bank loans and provides an excellent cash-flow solution to invoice raising companies by releasing up to 85% value of the debt ledger.
The Select Partnership has now evolved into a finance solutions company.
