Secured loan lender Firmus has put a hold on lending for the next three months as it conducts a review of its lending criteria.
Firmus initially launched in September 2013 and specialises in non-conforming secured lending. But following a strong start Firmus has now decided the time is right to review its range.
Zena Campbell, chief operating officer of Firmus Secured Loans, said: “We are currently conducting a review of our lending criteria and products. We anticipate that this review will last for around three months.”
Firmus currently has a product range that caters for near prime to medium heavy adverse at up to 70% loan to value.
Campbell added: “Since we launched business levels have been great. Shawbrook and Blemain have both come out with similar product lines recently and we feel the time is right to review our range.
“We want Firmus to be big and that means we need to ensure we are competitive.”