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Buy to Let · Strategy & Uses

The Buy to Let 100.
Strategy & Uses

Focus: Smart usage and investment approaches.

7+Questions
100%Expert Answers
FCARegulated
What affects my borrowing rate?
TL;DR If you're not sure how secured mortgages and loans work or what affects the borrowing rate this guide can help.
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How regulations protect you
TL;DR This short guide can help you understant how regulations protect you. Contact Promise Money for more help.
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Bridging Loan with Bad Credit
TL;DR A bridging loan with bad credit is still possible despite having bad credit. Check out this bad credit guide to gauge your eligibility.
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Buy to Let Loan for Landlords
TL;DR Fast, flexible, cheap buy to let loan from £25,000 to £1 mil. So much better than bridging to buy or refurbish investment properties.
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New BTL Loan
TL;DR This new product is the only flexible overdraft product with no drawdown or non utilisation fees secured on personally owned buy-to-lets.
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Poor credit Buy to Let loans up to 80% LTV
TL;DR Find out what Buy to Let loans are available to you as we emerge from Covid. Access specialist/mainstream lenders through Promise Money.
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Electrical safety standards Intermediaries
TL;DR The latest electrical safety standards have been overlooked by some landlords. Read this guide for help avoiding the fines.
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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. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.

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