Scotland – new credit repair lender – as promised
Scotland – new credit repair lender
Happy Monday!
As promised, here is a criteria overview for another of our specialist lenders which has now launched in Scotland.
We have used them for some time and find them great for credit repair and tricky cases.
We have a large panel of specialist lenders in Scotland so if you are struggling to place a case please give us a call on 01902 585052.
Here’s an overview of our new addition:
Credit Repair products – Up to 75% LTV – Rates from 4.94%
- Bankruptcy Discharged +12 months +
- IVA Satisfied or registered +12 months and conducted satisfactorily
- Debt Management Plan established more than 12 months and conducted satisfactorily
- Unsecured arrears in last 12 months (0 in 3)
- CCJ’s and Defaults registered +12 months
- Secured arrears +12 months
Near Prime products – Up to 85% LTV – Rates from 2.99%
Fee Free products available:
- No application fee and free standard valuation (up to £600)
- No completion fees
- Fee standard legals on remortgages
- £450 cash back on purchases
Other:
- Loans up to £1m
- Up to 4 applicants considered
- Variable rates with no ERC’s
- 2 & 3 year Fixed rates available
- Fees can be added above LTV limits
- Complex employment and Contractors accepted
- Self-employed with one years trading history – share of Net Profit accepted for Co. Directors
- No credit scoring
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