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Secured Loan Company reaches 10th birthday

Promise reaches 10th birthday

Promise has celebrated its 10th birthday and it occurred to me that many of our introducers and partners perhaps know little of what Promise is all about.

Certainly the recent years have been tough but we are proud to have survived the test when so many companies shut the doors leaving some brokers wondering where their commission went.

It would have been easy and more cost effective to have followed a similar route but I always believed in a long term view, the value of the people in our business, our technology and our reputation for integrity and fair play. We all have a choice how we do business, and not everybody will agree, but I have always valued the integrity of our business partners just as important as the products and services they offer. I hope you feel this way about Promise.

As you may know, prior to the creation of Promise, I ran Purple Loans and before that was a director of Midland and General Securities Ltd – one of the largest secured loan brokerages in the 80’s and 90’s. The current team largely dates back to these times so their experience is huge, most notably Debbie 30 years, Jo 27 years, Gill 24 years, Sharon 23 years, Marie 20 years with Wayne and Lucy both working with me for 16 years. The rest of the loan team and call centre have all worked with me at Purple or Promise for 8 years upwards apart from Stuart who joined last year with 17 years secured experience under his belt.

So as Promise completes it’s 10th year we are proud to have not only survived, but to have retained and built on our key strengths:

  • The largest panel of secured lenders bar none
  • The best/ most complete/ most empowering/ most accurate loan technology with over 10,000 registered users
  • An ability to mould our business processes around your needs – from instant referrals to our call centre through to giving brokers a professional sourcing and sales platform designed to meet new compliance requirements
  • A team with unbeatable secured loan experience and detailed knowledge of many alternative products so important to our brokers
  • And a reputation for integrity and being trusted by our lenders and our broker partners.

The secured loan sector is again in the ascendancy and we have new competitors springing up on a weekly basis (many from their bedrooms and garages) with slick looking websites. Therefore we have no room to rest on our laurels. Promise will continue to innovate and be at the front of the secured loan industry delivering quality and reliability – not just on the surface but in depth and breadth.

Please keep our details to hand for when the need arises – whether you want to place a loan, bridging finance, need help with a difficult scenario or just want guidance on greater integration of loans into your business. Maybe you just want to deal with a company you feel you can trust. Either way call the team on 01902 585052.

Here’s to the next ten years being far better than the last five for all of us.

www.promisemoney.co.uk

01902 585052


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    Notes...


    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.
    Secured / Second Charge Loans secured on land
    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 £117,730.2
    By submitting any information to us, you are confirming you have read and understood the Data Protection & Privacy Policy.

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    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