Rates start from 9% and payment terms can be up to 30 years. Repayments can also be added to the loan where affordability is not proven.
Steve Walker, managing director of the master broker Promise, said: "This is a ground breaking product. This loan is ideal for purchase deposits, remortgage shortfalls or for business ventures, particularly where there is adverse credit, lack of provable income or no available equity."
The loan is also open to homeowners and tenants throughout the UK including Northern Ireland and the Channel Islands.
Walker said borrowers wanting to access the loan must have a pension capable of being transferred in to a SIPP to give the lender comfort in the long term that borrowers will be able to repay.
And he added: "For example, if clients can’t afford capital and repayment, we can consider interest-only, or full roll up of interest and repayments to be recovered from the tax free lump sum at age 55.
"Each client receives individual advice regarding the product but introducing brokers get the opportunity to liaise with their clients and offer further advice or guidance.”
Brokers can refer clients to Promise which will deal with the application.
