Self employed loans and business finance
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Self employed loans and business finance
With tax bills looming, here is a reminder of some of the additional products which may help your clients.
It may be particularly beneficial to get this message out to your business contacts right now – accountants etc.
- Loans available up to 85% – some specialist lenders go higher
- Self employed can borrow up to 85% without recent accounts – can work on bank statements
- SA302’s, accountants reference, clients own income assessments also acceptable on different terms
- A wide range of adverse credit can be accepted subject to overall case – unlimited adverse at 65% LTV
Non status secured business loans
- Heavy adverse considered – loans up to £250K
- Affordability can be based on clients projected income – don’t need accounts
- Can take a first, second or third charge on residential or commercial property
- Repayment periods up to 10 years
- Repaying arrears or bank debt no problem
Pension and tax strategies
pension moneys available to limited companies
Unsecured loans –adverse accepted – affordability based on future pension value
Bridging finance or asset finance
Short terms loans arranged now where there is a exit in the next year
Remember, in extreme cases, we can help your clients via our in-house team with information on debt management, IVA’s, negotiating reduced settlement figures and associated finance solutions.
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