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Self employed loans and business finance

Self employed loans and business finance

With tax bills looming, here is a reminder of some of the additional products which may help your clients.
It may be particularly beneficial to get this message out to your business contacts right now – accountants etc.

Secured Loans

  • Loans available up to 85% – some specialist lenders go higher
  • Self employed can borrow up to 85% without recent accounts – can work on bank statements
  • SA302’s, accountants reference, clients own income assessments also acceptable on different terms
  • A wide range of adverse credit can be accepted subject to overall case – unlimited adverse at 65% LTV

Non status secured business loans

  • Heavy adverse considered – loans up to £250K
  • Affordability can be based on clients projected income – don’t need accounts
  • Can take a first, second or third charge on residential or commercial property
  • Repayment periods up to 10 years
  • Repaying arrears or bank debt no problem

Pension and tax strategies
pension moneys available to limited companies
Unsecured loans –adverse accepted – affordability based on future pension value

Bridging finance or asset finance
Short terms loans arranged now where there is a exit in the next year

Debt Solutions

Remember, in extreme cases, we can help your clients via our in-house team with information on debt management, IVA’s, negotiating reduced settlement figures and associated finance solutions.

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.