Loans for self employed – no accounts – poor credit

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Loans for self employed

This new product will be of benefit to clients with heavier adverse credit or those who have difficulty proving all of their income and will significantly help self employed borrowers who’s business or credit has suffered in the recent past.

Equifinance have now introduced secured loan plans which increase their loans to £30000 at 65% LTV. This includes applicants with heavy adverse or those who cannot easily prove all income.

For applicants with reasonable credit, good equity and borrowing over £20K we may also be able to negotiate lower interest rates which undercut other lenders in this area of the market.

As a reminder, Equifinance already holds a unique position as the only lender which will consider loans up to 75% LTV with heavy adverse or poor income proof. They are also very helpful where the property is ex council or the property value is below £100K (and will consider valuations below £90K if a lower LTV).

Whilst other lenders may accept arrears and bad credit, they will also require full income verification via an accountant or bank statements. For some self employed applicants ( cab drivers etc) only Equifinance enables them to borrow up to the full potential of their actual earnings and has funding in place to deliver quickly.

Key Criteria & Application Guidance

If any of your clients have high adverse credit or difficulty proving all income (or both), please bear this lender in mind for loans up to £30000. Due to good levels of funding available loans are paid out quickly.

The new plans have been added to the Promise Sourcing Portal so you can compare them with other lenders

If you have previously sourced a loan for clients needing more than £22K on a more “self cert” type product, it may be worth refreshing these enquiries on the sourcing system.

www.promisesolutions.co.uk

Remember Promise has the widest lender panel by far – currently 18 secured lenders. Most other master brokers/specialist credit brokers offer 8 to 10 lenders.

www.promisemoney.co.uk

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Intermediary Guidance for Self Employed Secured Loans

Structuring competitive terms on self employed secured loans for your clients requires direct access to specialist underwriters. In addition, our intermediary lending desk works directly with over 90 specialist lenders across the UK.

Consequently, partnering with Promise Money ensures whole-of-market broker access, transparent procuration fees, and rapid decisions in principle for your client cases.

Specialist Underwriting & Whole-of-Market Access

Because specialist lending facilities require bespoke underwriting, comparing lenders across the UK is essential. Explore our complete guide to Specialist Lending Desk to understand how different lending criteria apply to your requirements.

Promise Money is an independent credit broker authorised and regulated by the Financial Conduct Authority (FRN 681423). Our experienced team reviews your specific circumstances to secure optimal terms across 90+ UK lenders.

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Key Takeaways: Self Employed Secured Loans Broker Briefing

Additionally, partnering with Promise Money gives intermediaries whole-of-market access across 90+ specialist second charge lenders.

Furthermore, direct access to our specialist underwriting desk protects client relationships while guaranteeing transparent and competitive proc fees.

Consequently, complex borrowing scenarios—including high LTVs, adverse credit, or complex income—are structured efficiently without delays.

Therefore, introducers can submit case details directly online or via phone to secure rapid Decisions in Principle.

Specifically, second charge homeowner facilities are assessed with commercial speed to meet critical funding deadlines.

Moreover, comprehensive lending criteria checklists ensure client applications are fully structured prior to lender submission.

In addition, dedicated underwriter communication guarantees updates at every milestone from enquiry through to completion.

Crucially, keeping existing low-rate primary mortgages completely untouched saves your clients thousands in remortgage penalty fees.

In practice, our intermediary team handles valuation queries and legal liaisons so you can focus on client advisory.

Above all, whole-of-market access allows you to place non-standard cases that mainstream high street lenders routinely decline.

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