Small business loans, commercial loans and loans for Self Employed
Small business loans, commercial loans and loans for Self Employed
If you are finding it difficult to find a small business loan, commercial loan or loans for self employed borrowers, we have created the perfect solution.
You can use this to find secured loans and business loans for your clients. Members of the public can also contact us direct.
We have created a loan referral and case tracking portal specifically for the professional advisory sector. We have removed many of the features which brokers use enabling you to simply pass us your clients name and contact details without the need for you to have a consumer credit licence. We will contact them and do the rest but you can track your cases live if you wish.
By registering with us today, you are not committed to use us. However, you will be sent a unique log on so we (and you) can track any enquiries you send us. You can also request occasional updates should any new products come on the market which may benefit your clients. If this is not of interest today, please keep this email as there will surely be occasions where we can help your clients and pay you generous introductory commissions.
Intermediaries should go here https://www.promisemoney.co.uk/intermediaries/
Members of the public should go here commercial and business loans
As I mentioned in my previous email, we are providing this tailored service following enquiries from a number of accountancy firms and individual accountants. Most were very surprised how many options still exist for self employed borrowers who own their own home.
It is a misconception that borrowing is severely limited for self employed borrowers. In the mortgage sector that may be true. As the UK’s leading secured loan master broker we have a wide range of products aimed specifically at self employed borrowers. You can earn a substantial income from referrals without any further involvement whilst helping your clients find a financial solution. Our business mainly comes from mortgage advisers and IFA’s and we are approved by more Mortgage Networks and Mortgage Clubs than any other master broker. However, our services are equally valuable to you and your clients. All we require is to know that your clients are homeowners plus their contact details and we will call them and do the rest.
The terms we are able to get from our lenders are simply not available in the mortgage sector. Our lenders, many are backed by banks and building societies, can offer these terms because they are not regulated under the FSA regime and are generally dealing with smaller advances and smaller volumes.
Because you are not involved in the loan sourcing process, and an occasional loan referral is purely incidental to your business, you do not need a consumer credit licence. However we do pay generous introductory commissions which you can keep within your business or pass on to your client as a good will gesture.
In closing I would like to add that we pay commission the day after your loan completes – before we get paid ourselves. In addition, we have Punjabi and Urdu speaking staff to help relevant clients if their English is poor.
I hope you feel it is worth a minute of your time to register with us. If you have any questions please call my colleagues or speak to me. More accountants are getting involved in this sector and with our 25 years experience and accreditations from the main components of the mortgage sector you can rest assured your clients will be in good hands.
We look forward to hearing from you.
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