Willows Finance

Willows Finance: a credit broker for secured loans, mortgages and bridging finance

Willows Finance Limited operates as a credit broker rather than a lender. From its base in Bridgend, Wales, the firm arranges first and second charge mortgages, Buy-to-Let mortgages and bridging finance, and presents itself as a route to comparing a range of lenders for homeowners seeking finance. The company states that it has helped customers across the UK since 2008 and describes its approach as a "human" one, aimed at cases that are not straightforward.

Secured loans for homeowners

The secured loan service is directed at homeowners and covers borrowing from £10,000 to £500,000. Within this line the site lists bad credit secured loans and debt consolidation secured loans among its most popular products. The company frames secured borrowing as finance arranged against property, and its regulatory notice warns that property may be repossessed if repayments on a mortgage or other debt secured on it are not maintained.

Mortgages and remortgaging

On the mortgage side, Willows Finance covers buying, remortgaging and Buy-to-Let. The products it arranges include regulated residential mortgages, Consumer Buy-to-Let mortgages and unregulated Buy-to-Let mortgages. It also lists bad credit remortgage and home improvement loans among its popular products. The firm notes that the products considered depend on the borrower's circumstances, the purpose of the borrowing, the property and its intended use, and the relevant lender criteria.

Bridging finance

Bridging loans are presented as fast, tailored finance from £100,000 to £25 million for many types of commercial uses. The company arranges both regulated and unregulated bridging finance, with the regulatory status depending on the circumstances of the transaction.

How the application is handled

Willows Finance describes a four-step process: an initial enquiry that takes under two minutes to request an in-principle quote, comparison of a wide range of lenders without affecting the credit score, guidance through completion, and release of funds. Depending on the case, the firm may provide mortgage advice, make a recommendation and process the application; provide a non-advised packaging service; or introduce the client to another regulated mortgage intermediary, such as Evolution Money, which would then provide the advice and recommendation.

Where a borrower wants to raise additional funds against a property that already has a regulated mortgage, the company says it will point out alternatives before proceeding. These may include a further advance from the existing lender, a remortgage or new first charge mortgage, a second charge mortgage, or unsecured borrowing.

Scope of service and lender panel

The company is explicit that it does not offer a whole-of-market service. It considers second charge mortgages from a representative panel of lenders, first charge mortgages from a limited number of lenders, and bridging finance from a range of lenders. Willows Finance may receive commission from the lender or another third party when finance completes, and notes that different lenders may pay different amounts under different commission models, including a percentage of the amount borrowed or remuneration based on the risk profile of the application. Details of fees and commission are provided in the application and mortgage documentation and in the Client Agreement.

Regulatory status and company details

Willows Finance Limited is authorised and regulated by the Financial Conduct Authority under firm reference number 670052. It is registered under the Data Protection Act with number Z1447660 and is a member of the Association of Finance Brokers. The company is registered in England and Wales with company number 06678545, and its registered address is Brocastle, Bridgend, CF35 5AS.