The #1 Reason You're Being MISLED by Bridging Loan Calculators

You cannot believe online bridging loan calculators and comparisons.
A decision based on an online calculator could be a very costly mistake.

1 - Most calculators are only interested in gathering your data and selling it to third parties
2 - They don't give you reliable information because they can't.
3 - Watch this video to learn what information lenders need to provide an accurate quote

Bridging Loans Youtube playlist - https://www.youtube.com/playlist?list=PLUs11DNY_8fb-Mskx-u5NLFIEO00apdZb
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TIMESTAMPS:
(00:00) - Intro
(00:23) - Why it's a lie
(01:10) - Where to get more info
(01:25) - What influences your costs of bridging
(04:50) - What are the alternatives and steps to take

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Steve Walker from Promise Money expresses his frustration with misleading information online, especially concerning bridging loan calculator tools. He warns viewers about untruthful sites claiming to offer a bridging loan comparison, emphasizing the importance of caution. Contact a trusted mortgage broker for reliable advice.
THANKS FOR WATCHING

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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.
Correct when this post / video was published

Mortgages and Remortgages
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 £317807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

Secured / Second Charge Loans
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
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

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