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80% LTV bridging – Advance notice

80% LTV bridging

We have a new product coming soon which beats anything else on the market for high LTV cases.
Don’t bin any high LTV bridging deals without talking to us first.

  • 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
  • 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%.

We can look at cases now but the product is in pilot phase as we “don’t want to blow the bloody doors off” (Michael Caine – The Italian Job – 1969).

www.promisemoney.co.uk

01902 585052

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2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:

Mortgages and Remortgages

Representative example

£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

Representative example

£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.

Unsecured Loans

Representative example

£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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