Central Trust PLC Launches Guarantor Loan product in unsecured loan market

May 2010

Central Trust is delighted to announce the launch of a new guarantor loans product in the unsecured loan market. The new company, UK Credit, is part of the Central Trust Group and will be offering unsecured personal loans to applicants with a Homeowner Guarantor.

Initially serving customers in England and Wales the new product offers a new choice in a market that has seen many products withdrawn during the Credit Crunch and subsequent recession.

According to Moneyfacts* the number of lenders offering unsecured loans fell by nearly 40% from 2007 to 2009. Those that remain have withdrawn or changed many of the products that they used to offer.

The product will be supported by the launch of a brand new website, www.GuarantorLoansOnline.co.uk. The website offers an application form, product detail and helpful information on Guarantor Loans.

Central Trust PLC and its subsidiaries form one of the largest independently owned financial services organisations in the UK. The group has been providing a broad range of products and world-class service to customers, partners and staff since 1988.

The UK Credit product launch is an exciting addition to a market that has seen a reduction in activity by the major lenders. The Bank of England** has reported that high street lenders have reduced their net levels of unsecured lending by 90% since 2008.

The news follows Central Trust’s announcement of their new £90m credit facility with The Royal Bank of Scotland (RBS) and National Australia Bank (NAB).

Central Trust has helped over 300,000 people throughout the UK to source a finance solution specific to their individual needs. From a small team of two in 1988, they now employ over 250 people in Watford, Norwich, Redditch and elsewhere throughout England and Wales.

For more details please contact Paul Fairweather, Head of UK Credit - 01603 896880.

• * Moneyfacts "Lenders move away from unsecured lending" (July 2009)
• ** Bank of England "trends in lending" (June 2009)

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