Newable Broker Update
Welcome to Newable’s July update!
Further Advances for existing Newable clients
A question we are often asked is whether we welcome additional loan applications from clients who are already existing borrowers with Newable.
The good news is that we are more than happy to consider requests from existing borrowers subject to the following considerations –
- The overall exposure to any individual borrower may not exceed £150,000
- There must have been at least 6 months since the applicant last made a loan request to us.
Please note that if a further request for finance is successful, a further loan will be made – we will not refinance an existing Newable loan so that will continue as normal.
Helping us to help you
Here at Newable, we are delighted that volumes of loan applications continue to increase and we thank all of our introducers for keeping us so busy!
In order that we can help turn around your applications as soon as we can, please may we remind you to ensure that all mandatory supporting information is loaded onto the Portal.
Due to the volume of applications being received, our Underwriting Team will only access cases that have all the information provided. Very often, the VAT information regarding the applicant is still awaited so if you are in any doubt as to what you need to submit, please let us know.
All applications that are submitted will have a decision from our underwriters within 5 working days of all the necessary supporting information being provided.
Thanks for your help in allowing us to get your clients the finance they need as quickly as possible.