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Do you expect to see less or more second charge mortgage lenders in 2018?

Lender set to open first of 12 new branches

Everyday Loans – which was acquired by Non-Standard Finance in April 2016 – claims to be the UK’s largest branch-based lender in the non-standard finance sector.

This latest stage of expansion will bring the full number of Everyday Loans branches to 42 across the UK, with the remaining 11 locations expected to launch before the end of the year.

In a trading update, Non-Standard Finance said: “Loan book growth has continued into the second quarter at Everyday Loans, where our 'selfy' loans product has started well.”

The new selfy product is designed for self-employed or sub-contractor borrowers, such as sole traders, freelancers or company directors.

Although Everyday Loans does not offer business finance, the product can be used for a variety of purposes, including vehicle, tool or equipment purchases, and professional qualifications.

The news comes just days after Non-Standard Finance revealed it had appointed former Co-operative Bank CEO Niall Booker as an independent non-executive director.

Niall now serves on the company’s nomination, remuneration and risk committees, as well as the audit committee, after replacing Charles Gregson as chair.

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