Business Loan Protection

Have you considered what would happen to your family, if you were to die and you were no longer there to support them? Money worries can be devastating for your family, at an already difficult time.

A life assurance policy could be the lifeline that helps your loved ones cope financially by providing them with a lump sum in the event of your death. The money can be used for any purpose for example, paying off a mortgage, paying household bills or any outstanding debts.

Our fees are detailed in our Terms of Business, however, each individuals’ circumstances are different therefore we are unable to confirm an exact fee before the initial consultation, which is free of charge.A typical fee for a standard residential or BTL purchase is £495. When we have learnt of your financial goals, we will advise you of our fee at which point you can decide if you wish to proceed. A point to note is we do not charge any fee until you have received a mortgage offer.

The old system of 3.5 or 4 x your income is gone and now we need to know all your income sources together with all your debt details. We then use a multi lender affordability system to calculate your borrowing ability from over 50 lenders in a single go. It is important not to take on new debt before you are considering a mortgage as any and all monthly payments to debts reduce the level of income to be used in calculating affordability. As a ‘guide’ if you multiply by 12 ALL your monthly payments to loans, HP agreements and credit card payments (using 5% of the balance as a minimum payment) and deduct from your total income and then multiply by 4 you will not be far away, but this needs finalising by your adviser.