Within two weeks of Lending Works' introduction to the panel, Norton has already completed several personal loans with the lender.
Nick Harding, CEO of Lending Works, said:
“The Broker API we have developed is an ideal platform for ourselves and Norton, encouraging a low-maintenance, self-sufficient working relationship, operating in tandem with the greatest of ease and minimal man-hours. However, when we have interacted with them, all their staff have been immensely friendly and helpful.
“We have already seen a marked increase in volume of loans since we went live with Norton, and we look forward to a prosperous and mutually beneficial relationship for many years to come."
Monique Furniss, Norton’s Head of Specialist Lending, added:
“We always strive to offer loans to the majority of clients and diversify what we can offer in terms of products and pricing. Lending works offer an online application and the rates are competitive with the other lenders on our specialist panel – so we know the clients will be extremely happy with the offers and service. Their addition to our panel gives us more options for our customers in this ever-growing marketplace."
Speaking about the personal lending market, Nick Harding added:
“The personal lending market is at an interesting juncture. Traditional lenders have been besieged by stricter regulations and have had to tighten up, post-recession. It’s opened the door to more versatile and agile unsecured loan providers to challenge the classic high street institutions. Diversity in the consumer credit market is unquestionably a good thing. However I would strongly recommend that anyone seeking a loan should do their homework and ensure they select the most suitable providers.
“As a peer-to-peer lender, one of our greatest assets is the efficient and streamlined business model with which we operate. This generates value for both the lenders and borrowers, and in the case of the latter, translates into a competitive APR. For the borrower, the process is also incredibly simple, requiring just a couple of minutes of the client’s time to apply online. If he or she is approved, the funds could be in their account within two working days of their application.
“We also empower the borrower by allowing them to borrow an amount which suits them up to £25,000 and pay it back over a suitable period of up to five years. In addition, early repayments can be made at no extra cost.
"At Lending Works we believe that such dynamism has the power to ultimately transform the personal finance market into something even more competitive and consumer friendly – which is exactly how it should be.”
