Pension loans for Limited companies
Pension loans for Limited companies
Here’s another new product which I think will interest you.
Do you have clients who need to inject cash into their business but can’t meet affordability or credit requirements?
If so, this new product may really help.
It is only available to limited company owners with a minimum pension fund of £80,000.
This pension restructure will enable your client to utilise their pension fund to capitalise their business and provide all the benefits of a business loan without credit checks, no monthly repayments or high interest charges.
Features
- Using a UK Registered Pension scheme
- This is not a loan
- There is no cost for your client to find out how this scheme might benefit them
- 100% of the net pension fund can be utilised
- Funds can be used for any purpose, for example:
- Fund capital growth
- Refinancing
- Business opportunities
- Business start up
- Repayment of directors’ loans
- No age limit
- Commission to you on completion £2,000 upwards
Your clients could benefit if they:
- Need to inject cash into their company
- Have been declined by their bank for a business or commercial loan
- Have been offered terms which are too expensive or inflexible
- Have bad credit or difficulty proving affordability
Qualifying pensions
Client should have one of the following types of pension fund worth in excess of £80,000?
- SSAS, SIPPs, Protected Rights
- Occupational pension scheme
- Income Drawdown
- Private pension plan
- Group pension plan
If you have a potential case, we can put you in direct touch with the scheme provider to explain more.
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