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Large Loans

Your bank may have hundreds of products and plans, Promise Money has over 10000!

About Large Loans for £30,000 or more

When borrowing slightly larger loans amounts, unsecured loans are not readily available. It is therefore usual to offer some form of collateral or security for the loan. Larger loans tend to be secured loans on property, land, commercial property or, with certain loans, on valuable items such as cars, boats, antiques, art or jewellery.

We have loans available from £25,000 to £2,500,000. and we regularly arrange loans in excess of £100,000 secured on property. We have also arranged a £1 million loan secured on an art collection valued at over £5 million.


Loans if you have been declined elsewhere

Secured loans are still available to home owners even if they had some adverse credit. Self employed applicants can borrow even if they don’t have fully prepared accounts and loans can be used for personal and business purposes. Interest only loans are also available and we can lend to retired applicants and use pension income, benefits and non earned income such as rental income to support the loan.


Loans for business purposes

If the loan is for business purposes, the value of the business, the business premises or the profitability of the business may be taken in to consideration. However, it is not unusual for business loans to be secured on the borrower’s residential property and this is perhaps the most straight forward way of borrowing. Banks don’t typically make it easy for business people to get loans and often want them to sign personal guarantees. Our lenders take a much more straight forward approach and consider each application on its merits.


Repayment Loans

If looking for a repayment loan, it will normally be secured on residential property and applicants will come under the protection of the Financial Conduct Authority. Whilst credit history is a consideration, the key factors are that the loan is affordable and there is sufficient equity in the property to support the proposed borrowing. More information on secured loans is available on this website.


Short Term Bridging Loans

Short term loans or bridging loans are also available for between 1 month and 2 years and secured on property or valuable items. With these loans credit history may be less of an issue and the interest and repayment can be rolled up into the loan. With no monthly payments affordability is no longer a problem although the interest may be slightly higher as you are in effect borrowing the repayments. These loans are particularly popular with borrowers needing some short term cash, can repay the loan in full in the future but don’t want any repayments in the meantime.


Loans for home improvement

Large secured loans are also available if you are looking for a home improvement loan. Whether you are doing home renovations or adding a home extension onto your property we have lenders available. You can borrow the money if you are improving the property you live in, or a property you intend to let. The possibilities are endless so talk to a Promise adviser today to discuss your options.


Debt Consolidation Loans

If you are looking for a debt consolidation loan then you can find out more here.

Find a secured loan

Enter some details and we'll estimate your repayments on our popular loan plans – 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

What best describes your credit rating?

Perfect: In the last year you have no mortgage arrears, CCJs or defaults. Your credit score is high.

Your repayments are estimated at

£249.51 per month


Secured Loan examples above are based on total borrowing of between 50-75% of the value of your property. Any lender / broker fees can be added to your loan which will increase the repayments and total amount repayable. Discuss this with your Promise adviser.
REPRESENTATIVE EXAMPLE FOR PERFECT CREDIT HISTORY (with all set up fees added to the loan) – £63,000 over 228 months at an APRC of 4.2% and an annual interest rate of 3.47% (variable) would be £398.62 per month, total charge for credit £24,400.36, total payable £90,885.36. This figure includes a Promise fee of £2,690. Actual repayments depend on your circumstances.

By submitting any information to us, you are confirming you have read and understood the Data Protection & Privacy Policy.

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.


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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