Marie Grundy, operations director at V Loans, said there had been occasions over the past few years where V Loans had ran out of options for clients needing short-term funding in a hurry.
She said: “Sometimes it is simply a shortage of conventional sources willing to go beyond strict criteria on loan to value or income.
“In other instances it can be all about the need for a speedy resolution where lenders simply cannot meet the client’s needs quickly enough.
“With the borro proposition in place we are now able to offer a radically alternative source of funding.”
Chris Gates, managing director at borro, said: “We are delighted to be part of the V Loans panel as a short-term lending solution to the clients of their supporting intermediaries.
“Their team has built up a wealth of experience in assisting intermediaries with their loan enquiries and we look forward to working with them.”
