Finding the Best Broker for you
Every broker has a website but it’s doesn’t necessarily mean they offer those services personally.
In fact you will find that many of the websites offering mortgages and loans simply want you to apply so they can sell your details to an expert.
These are called lead generators and they have no expertise other than marketing.
Worse still because they demand a slice of any commission the broker earns, it could cost you more if the broker has to increase fees to cover it.
Comparison websites are lead generators. They focus on marketing and so are often found at the top of google search’s
Because of this finding a genuine broker isn’t so easy.
But when you do, you then need to decide if that broker genuinely has the level of expertise you need. Many cherry pick the simple cases and pass on the rest.
Look at the depth of the content and expertise. Has it just been written to rank high on google or are their videos and guides to help you.
Look at their reviews – do they cover all sectors, including specialist products.
Look to see if they offer their services to other brokers – If other brokers use them, that has to be a good sign.
A website is just an advert but look beyond the colours and images.
Is there real expertise and service behind it with valuable content and videos to help you make informed decisions and understand the breadth of products available.
We’d love to help you here at Promise but encourage you to do your research and find a proper broker which has the expertise and products to get the best outcome for you.
Talk to a Promise Money adviser for more details
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