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80% bridging – now live

80% bridging – now live

80% LTV bridging is now live – the first case has been offered.
We gave you advanced notice two weeks ago and we are now more comfortable to accept volume business.

This product will rescue many of your failed bridging cases and offers the highest LTV on the market by a country mile – don’t overlook it.
If you have a bridging case which is failing on valuation – or other reasons – call us.

  • First and second charge bridging – both up to 80%
  • Arrears – 1 month arrears accepted in last 12 (none in last 3)
  • CCJ’s and Defaults – will accept unsatisfied if under £5,000 and satisfied under £15,000.
  • None in last 6 months but all ignored over 24 months
  • Light refurbishment allowed – kitchen / bathroom / loft conversion / extension
  • Option to convert to 36 months on repayment basis after first 12 months – non reg only
  • Bridge to bridge accepted
  • Mainly non regulated but regulated cases accepted on second charges – max 12 months

If you need to get a high LTV deal placed the rates are surprisingly competitive – e.g. 75% LTV at 0.95%, 80% LTV at 1.1%.
As we can do high LTV second charges we can possibly make the bridge very cost effective by leaving the first charge in place.

Call 01902 585052 for more information – If you do bridging you will find this product invaluable.

www.promisemoney.co.uk

01902 585052


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    Latest Articles


    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.

    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 04822774
    Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

    Authorised and regulated by the Financial Conduct Authority – Number 681423
    The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

    Website www.promisemoney.co.uk