Loans We Offer
Interest Only Loan
This loan is granted on an interest only basis, with no fixed repayment term. Interest is charged on the outstanding balance of the loan at the end of each calendar month.
All borrowers will be responsible for making the necessary provision for the future redemption of this loan facility, themselves or through their Financial Advisor.
Loans for Freehold Businesses
We provide an interest only facility at 2%, where the interest rate of 2% each calendar month(APR 26.8%) will be charged on the outstanding loan amount on a split basis. Interest of 1% will be paid each month during the time of the loan and the other 1% per month will be deferred without penalty, until the final redemption of the loan.
Leasehold Business With Additional Freehold Security
We provide an interest only loan at 2.50% per month, (APR 34.4%), will be charged on the outstanding balance of the loan on a split basis. Interest of 1.25% will be paid each month during the time of the loan and the other 1.25% per month will be deferred without penalty, until the final redemption of the loan.
Leasehold Business Without Additional Freehold Security
We provide an interest only facility at 3%, where the interest rate of 3% each calendar month(APR 42.2%) will be charged on the outstanding loan amount on a split basis. Interest of 1.5% will be paid each month during the time of the loan and the other 1.5% per month will be deferred without penalty, until the final redemption of the loan.
How Can A Loan Be Settled?
A loan can be terminated without any exit penalties after the initial 6 month period, subject to the interest being paid on the original amount borrowed. Settlement of the loan requires the original capital amount to be paid, with the deferred interest rate payments which has been accrued on the loan amount.
Can Payments Be Reduced If I Put In A Lump Sum?
The original loan amount can be reduced after the 6 month period by payment of lump sums into the account. Interest will be calculated on the outstanding amount at the end of the month. The new monthly payment amounts will be recalculated and will be payable in line with the deferred interest only plan.