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Promise Solutions launches online unsecured loan facility

Promise Solutions has launched an online unsecured loan facility for its introducing brokers with rates starting from 8.8 per cent APR.

Loans up to £25,000 are available to home owners or tenants, with an online quote and decision in principle available in around 1 minute. The typical time for a payout is two days.

Lenders pay commission of up to £250.

Promise Solutions managing director Steve Walker says: “In the past it has not been easy for brokers to offer prime unsecured loans as they would have no control over the initial quoting and acceptance process. Perhaps more importantly, the high street unsecured lenders would normally refer declined applications to other brokers so an introducer would find his client being handed over to a competitor and if he did have a loan paid out, any commission would have been pitiful.

“Now quotes are available from within the Promise sourcing system and the client relationship is protected. With commissions up to £250, no packaging and a fast turnaround this is now a very worthwhile proposition for brokers”


MS Leader: Standing up for ourselves

Full marks to Conservative MEP Vicky Ford for doggedly trying to ensure that buy-to-let is not included with residential mortgages in the European Commission’s mortgage directive. Despite the many pieces of regulation that the UK market already has to contend with, the EU mortgage directive still hangs over it like a particularly menacing dark cloud. […]

Letters to editor MS 480

Letters to the editor

Star letter I could not believe what I was reading last week with the news that in final negotiations over European capital requirements, ministers agreed to define a mortgage default limit of 180 days, doubling initial proposals for a 90 day limit. Conservative MEP Vicky Ford said she fought hard to increase the limit from […]

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Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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