Earn an additional £300 bonus on your large loans Plus we average a big loan commission of £1,800
On loans above £50,000 earn an extra £300 On loans above £35,000 earn an extra £150 Typical Big Secured Loan case studies
£300,000 needed for small business loans purposes but accounts were showing poor profit We offered a 3 year loan at 9.9% with the interest rolled into the advance so no repayments to worry about
Client needed £94,000 loan at a high LTV to clear outstanding credit We arranged a loan at up to 85% LTV which cut his outgoings by 2/3rds
Our self employed client needed £100,000 to complete a major refurbishment His accounts were not up to date but he had bank statements to show recent income He could borrow the whole amount at 7.9% despite not having moved back in yet
This borrower was aged 72 and needed £80,000 on an interest only basis for 5 years Not a problem
Another client wanted to borrow £150,000 secured as a second charge against a BTL property This was easy as the tenancy agreement confirmed sufficient rental income to support the loan
A client had bad credit and wanted a £40,000 bad credit loan to pay off an IVA We had a number lenders prepared to accept this case
This bonus applies to all loans over £35000 submitted during May Irrespective of the completion date subject to a minimum 5% packaging fee
2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:
Mortgages and Remortgages
£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker / processing fee and £125 application fee. Total repayable £119,873.
Secured / Second Charge Loans
£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, total charge for credit is £42,584.52 which includes a £2,690 broker / processing fee. Total repayable £105,584.52.
£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.
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.
If you have been introduced to Promise Money by a third party / affiliate, Promise may pay them a share of any fees or commission it earns. Written terms available on request. Loans are subject to affordability status and available to UK residents aged 18 or over. Promise Money is a trading style of Promise Solutions Ltd. Promise Solutions is a broker offering products which represent the whole of the specialist second mortgage market and is authorised and regulated by the Financial Conduct Authority – Number 681423.
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