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Pension loans for Limited companies

Pension loans for Limited companies

Here’s another new product which I think will interest you.

Do you have clients who need to inject cash into their business but can’t meet affordability or credit requirements?

If so, this new product may really help.

It is only available to limited company owners with a minimum pension fund of £80,000.
This pension restructure will enable your client to utilise their pension fund to capitalise their business and provide all the benefits of a business loan without credit checks, no monthly repayments or high interest charges.

Features

  • Using a UK Registered Pension scheme
  • This is not a loan
  • There is no cost for your client to find out how this scheme might benefit them
  • 100% of the net pension fund can be utilised
  • Funds can be used for any purpose, for example:
    • Fund capital growth
    • Refinancing
    • Business opportunities
    • Business start up
    • Repayment of directors’ loans
  • No age limit
  • Commission to you on completion £2,000 upwards

Your clients could benefit if they:

  • Need to inject cash into their company
  • Have been declined by their bank for a business or commercial loan
  • Have been offered terms which are too expensive or inflexible
  • Have bad credit or difficulty proving affordability

Qualifying pensions
Client should have one of the following types of pension fund worth in excess of £80,000?

  • SSAS, SIPPs, Protected Rights
  • Occupational pension scheme
  • Income Drawdown
  • Private pension plan
  • Group pension plan

If you have a potential case, we can put you in direct touch with the scheme provider to explain more.

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.