loan search for homeowners

In a move that has been received ambiguously by the secured loans industry, Nemo Personal Finance has announced that it is making significant changes to the range of services it offers.

The most welcome aspect of the changes is that, in a decreasing market, Nemo will not be abandoning its secured loans product services altogether. It will, however, no longer be offering such loans to self-employed people, even in cases where they have strong and multiple accounts.

Nemo also said that it will no longer be offering secured loans to consumers with bad credit ratings, including those who only have one unit of adverse.

The director of one major loans industry player commented, “In light of last week's announcement from Firstplus, it's good to see Nemo still have an appetite for lending and making the changes it feels are necessary to ensure it is still lending in 12 months.”