Bridging – LTV’s to 80% – Rates from 0.43%
Bridging – LTV’s to 80% – Rates from 0.43%
Here’s just a quick update on our popular short term products at the moment.
80% Bridging – this could really get clients out of a hole where other options have failed.
- First and second charge bridging – both up to 80%
- Arrears – 1 month arrears accepted in last 12 (none in last 3).
- CCJ’s and Default’s – 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
- Up to 80% LTV at 1.1% – same rates for second charge.
Super Fast bridging – when speed is everything – payout within 2 days of enquiry achieved.
- Quote same day – onsite visit next day – completion same / next day.
- Director visit to property for sign up – valuation avoided where possible – saves time and cost
- Standard legal’s done in house – external solicitors not normally required
- Lender will complete on second charges without consent from the first mortgagee.
- Loans from £15,000 to £250,000
Low rate Bridging – from 0.43% at 50% LTV.
- Wide range of prime lenders with lowest rates
- Reg and non reg – light and heavy refurbs.
Let us help with all your bridging requirements and if you are too busy we can deal with the sale too.
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