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Uses of commercial finance

What are some typical uses for commercial finance?

When it comes to commercial and business finance there is no standard template and no magic formula. Every application is different and the key is to make sure we understand what you want to achieve.


Below are just a few examples of the finance requests we receive:


  • Buy to let mortgages
  • Loans to buy, convert or refurbish HMO’s
  • Bridging loans for BTL’s, HMO’s or commercial property
  • Buying properties off plan
  • Property development
  • To complete part built projects
  • Business loans for expansion
  • Business finance to pay tax
  • Loans to start or develop a new business
  • Loan to pay off banks who threaten foreclosure
  • Loans for business with a bad credit history
  • Asset finance to buy equipment
  • Cash flow finance or factoring
  • Commercial mortgages without prepared accounts
  • Bars
  • Bed & Breakfast
  • Factory units
  • Farms
  • Golf Courses
  • Hotels
  • Leisure centres
  • Night clubs
  • Nursing homes
  • Offices
  • Public houses
  • Restaurants
  • Shops

This is just a small selection… speak to one of our experts about your own requirements.

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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