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Spot Secured Loans Faster – Refer Them Faster

Spot Secured Loans Faster

Are you too busy to offer secured loans on your remortgage declines?

Do you still want the extra commission and regular updates but no extra work or hassle?

Do you need a really easy way to give your clients choice from the whole secured market?

Spend just an extra 60 seconds on each remortgage decline as below to get typical earnings of £1000 to £2500

  1. Select any client which meets the secured loan criteria below – capital raising only
    • 75% to 95% LTV, max of 1 missed mortgage payments in the last 12 months
    • 75% to 95% LTV No unsatisfied CCJ’s or defaults over £500 in the last 24 months
    • Self employed max 90% LTV but treat as employed if main applicant works full time
    • Below 75% LTV we will talk to all clients with any adverse and try to make a deal fit
    • Up to 9x income – many lenders work purely on income and affordability so this is a guide
    • Max age 75
    • Min loan £10,000
    1. Note: This is a high level criteria to make life easy for you. Promise will do the rest of the leg work. Feel free to call 01902 585052 to discuss any potential loan enquiries
  2. Tell your client you may have an alternative – (Try this sample script)“Unfortunately we can’t arrange a remortgage for you due to………..However, I think we can raise the extra money you wanted with a secured loan as the lending criteria is much more flexible. I’ll arrange for someone from our loans team to give you a call a little later. Is that OK?[Optional and assuming they say yes] Great! Our loan partner is Promise Solutions. The team has been arranging loans for over 25 years and offer a huge choice of personalised loan products including unsecured loans, the largest choice of secured loans in the UK and much more. As soon as we finish this call I will brief Promise on what you are looking for and ask someone to call you. Can I also arrange to call you in the future to have another look at a remortgage and potentially refinance everything at lower rates?”
  3. Click here for an instant referral to Promise Solutions (save this as a favourite on your desktop and tick the box so the computer remembers you next time) Enter clients contact details and a note explaining what client wants and why you can’t offer a remortgage (e.g. value £250K, Mort £175K, wants £30K home improvements. S/E and insufficient income)
  4. Click Submit

Any Questions?

  • If you are registered with Promise you can start right away (save this link as a favourite)
  • If you are not registered – Register here
  • It will take you around 1 minute to identify and refer a secured loan
  • You will earn the same commissions as sourcing the loan yourself – typically £1000 to £2500
  • You will get email updates and case tracking so don’t need to be involved at all (unless you want to)
  • Your clients will be offered loans from the largest secured loan panel in the market – we look after sales, compliance, everything

Not only will this process create additional income with virtually no work on your part, it will also leave your client feeling good about your company so you can more easily set up a future date to call and review their circumstances.

If you have a telesales team or brokers on the road, we can give each one their own sub account so they can follow this process independently and you can monitor the business they refer. This process is already working for busy brokers – from one man bands to large telesales organisations.

At Promise we want to make success in the secured loan sector as easy as possible for you. If a variation on this theme might suit you better please talk to the sales team on 01902 585052 and we will see what we can do to customise it for you. Alternatively if you want to fully source the loan yourself, control the sale and the commissions, select the loan sourcing option on our website.

www.promisemoney.co.uk

01902 585052


    Find a secured loan

    Enter some details and we will be in touch – this will NOT affect your credit rating.

    How much you would like to borrow?

    £

    Type in the box for larger amounts

    For how long?

    yrs

    Use the slider or type into the box

    Are you resident in the UK?

    Do you own property in the UK?

    About you...

    Your name:

    Your forename:

    Your surname:

    Your email address:

    Your phone number:

    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