Here is an email template you can send to your business contacts to generate secured loan enquiries. It’s quick, easy and could get the phone ringing. This follows on from a similar email I sent which you can send to your clients. If you missed this, please call us and we can resend it to you. As this email is intended for business to business use, the compliance issues largely go away. If you have relationships with Accountants, Estate Agents, Solicitors etc, an email such as the one below may create both loan and remortgage enquiries. Please tweak it as you see fit. Good Luck.
I would like to make you aware of a new service we can offer to your clients. Please keep this email as there will surely be occasions where we can help your clients and pay you generous introductory commissions.
Whilst finance through many routes is quite restricted, I am now able to offer more flexible lending criteria via a secured loan. Accountants are finding this new service of particular benefit to their clients. Similarly, Estate Agents can refer their clients to us to arrange loans to improve their property prior to a sale. Alternatively their clients can carry out major improvements if they decide not to sell.
As I mentioned, there are generous commissions available and I just need to know that your clients are homeowners plus have their contact details. I will then call them, following your introduction, and do the rest.
Below is a flavour of the key lending scenario’s I feel might be of interest to your clients:
No accounts – borrow up to 85% LTV with just bank statements to prove affordability
Interest rates from 6.9% and loans available from £5,000 to £3million
Historic CCJ’s and Defaults can be ignored so no impact on rate or criteria
Loans available for business, consolidation, to clear IVA’s, pay off tax bills or purchase deposit
Interest only loans available – age 80 at end of the loan. Can be over age 75 now
Short term 1st and 2nd charge bridging loans – repayments rolled into the advance to aid cash flow
1st charge loans available up to £50k – including S/E borrowers with adverse credit
Unlimited adverse credit and no accounts or bank statements – can borrow up to 75% LTV
These terms are simply not available in the mortgage sector. Our lenders can offer these terms because they are not regulated under the FSA regime and are generally dealing with smaller advances and smaller volumes. Because you are not involved in the loan sourcing process, and an occasional loan referral is purely incidental to your business, you do not need a consumer credit licence.
If my secured loan service is of interest to you and your clients right now, please call me on [ ] and I can explain it further. I am sure you will then spot opportunities.
If not, please keep my details on file for when the need arises.
2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:
Mortgages and Remortgages
£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
£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.
£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.
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.
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