80% bridging – now live
80% bridging – now live
80% LTV bridging is now live – the first case has been offered.
We gave you advanced notice two weeks ago and we are now more comfortable to accept volume business.
This product will rescue many of your failed bridging cases and offers the highest LTV on the market by a country mile – don’t overlook it.
If you have a bridging case which is failing on valuation – or other reasons – call us.
- First and second charge bridging – both up to 80%
- Arrears – 1 month arrears accepted in last 12 (none in last 3)
- CCJ’s and Defaults – will accept unsatisfied if under £5,000 and satisfied under £15,000.
- None in last 6 months but all ignored over 24 months
- Light refurbishment allowed – kitchen / bathroom / loft conversion / extension
- Option to convert to 36 months on repayment basis after first 12 months – non reg only
- Bridge to bridge accepted
- Mainly non regulated but regulated cases accepted on second charges – max 12 months
If you need to get a high LTV deal placed the rates are surprisingly competitive – e.g. 75% LTV at 0.95%, 80% LTV at 1.1%.
As we can do high LTV second charges we can possibly make the bridge very cost effective by leaving the first charge in place.
Call 01902 585052 for more information – If you do bridging you will find this product invaluable.
01902 585052
Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.
More than 50% of borrowers receive offers better than our representative examples
The %APR rate you will be offered is dependent on your personal circumstances.
Mortgages and Remortgages
Representative example
Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66
Secured / Second Charge Loans
Representative example
Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20
Unsecured Loans
Representative example
Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG
Authorised and regulated by the Financial Conduct Authority – Number 681423The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages
Website www.promisemoney.co.uk