Difficult loans or finance applications
Difficult loans or finance
Secured loan brokers constantly preach how a loan can provide a solution when a remortgage is declined. (I know. We do it too).
But complex mortgages, equity release and bridging finance and business loans are also providing solutions for many of our introducers.
If you have a difficult scenario, but feel it has merit, call us.
Bridging finance is providing valuable solutions to today’s problems where clients are able to refinance in 9 to 18 months time, for example a remortgage when the accounts are completed.
On a slightly different tack we have just placed a £250,000 – 5 year business loan as a second charge where the clients previous business folded, the new business doesn’t have it’s accounts prepared and there are over 10 Defaults and CCJ’s plus mortgage arrears.
For both complex mortgages and equity release we can put you in touch with an expert so you can let someone else deal with the whole matter. Some adverse can be accommodated and many problem cases can be more trouble than they are worth. We are placing cases which brokers would have otherwise put in the bin and there is no cross selling so you can still arrange protection and other add on’s.
Call Promise to explore secured loans, bridging, remortgages, equity release and more in one phone call.
We also have new lenders in the wings so we can tell you if there may be a product coming soon which will help.
To discuss options for loans, complex remortgages, bridging or equity release call 01902 585052
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