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First Federal, a non-bank lender owned by financial services group Multifi Group, has joined the lender panel of Finsure, effective immediately.
Announced at Finsure’s Professional Development Day on Wednesday (4 March), the move will enable Finsure’s brokers to access its full suite of residential loans (including its 90 per cent loan-to-value ratio loans) and business loans up to $25 million.
The non-bank, which is self-funded with more than $500 million in available warehouse capacity, specialises in near-prime, specialist, and self-declared commercial loans (all property-backed).
It operates a fully broker-distributed model, with no direct-to-consumer offering and is already on the lender panel of YBR Aggregation and outsource Financial, and has relationships with sub-aggregators such as Purple Circle and My Local Broker.
Speaking of its entry onto the Finsure panel, James Angus, CEO of First Federal, said it would help build the lender’s continued national growth strategy.
“We’re excited to partner with Finsure and support Finsure’s national broker network,” Angus said.
“Our focus is simple – understand the scenario, structure the right solution and deliver fast decisions.
“We’ve built First Federal to be genuinely broker-friendly. That means same-day approvals, direct access to our credit teams and no clawbacks – ever. We’re committed to helping brokers say ‘yes’ more often.”
Simon Bednar, CEO of Finsure, commented: “We’re delighted to welcome First Federal to the Finsure panel.
“Our brokers enjoy working with lenders who can move quickly and think commercially. First Federal’s same-day approvals, direct access to credit and no clawbacks offer brokers speed and certainty in a highly competitive market.”
First Federal, established in 2020, operates under the same ownership as Prime Capital, founded by Paul Scanlon.
The non-bank specialises in near-prime, specialist, and self-declared commercial loans up to $25 million (all property-backed).
The lender has its own bank warehouses and is working on its first securitisation program by the end of this year.
[Related: Aggregators address concerns with changing groups]