Bank of Ireland has partnered with Freedom Finance to refer customers suitable for a second charge loan.

The bank will also direct customers to Freedom Finance who want an unsecured loan but have impaired credit.

Alastair Watts, head of unsecured loans at Bank of Ireland said: “This partnership is an exciting development for both Bank of Ireland and Freedom Finance.

“As the financial industry undergoes rapid technological and regulatory change, our partnership with Freedom will deliver innovative lending through a disruptive proposition.

“Working together, we will be even stronger in finding customers the best possible loan and rate whilst providing market-leading service standards.”

The bank said the partnership will result in more consumers being approved for loans than with its competitors.

Michael George Davidson, director of business development at Freedom Finance, said: “We are delighted to be able to support Bank of Ireland at this exciting time.

“Being able to work closely together to engineer a solution that supports thousands of customers every month is testimony to the values of both brands.”