This week we are going to look at regulated vs non regulated short term loans and how they can help your client. Plus we share our TOP sales tip – read on for more!
Here at The Right Loan, we do the shopping for you to find your client the most suitable loan for them, saving your valuable time so that you can concentrate on writing more business.
Your client always remains YOURS, we’re simply an extension to your business.
Regulated short term loans
We also have lenders with no age restrictions. So, if a client has had equity release declined based on the property, we can help them raise cash to bring the property up to date, using the Equity Release as an exit strategy. There are no monthly repayments no its not assessed on affordability from a lender’s perspective.
Non regulated short term loans
If your client is securing a loan for a limited company, an investment property, a commercial building, or for a buy-to-let it will be a non regulated bridging loan.
Non regulated bridging loans can be used for purchasing land for the purpose of obtaining planning permission before a development, purchasing properties at auction and purchasing and refurbishing a property for resale.
Don’t forget – non regulated cases go through a lot quicker and you will receive a more generous commission than standard mortgages, so it will be beneficial to identify these opportunities within your existing client bank.
Say goodbye to the word “bridging” and hello to “short term loans”!
For some clients, just the mention of the word bridging loan and the stigma attached to it may be enough to switch some off.
Afterall, no one wakes up in the morning and thinks “I really fancy a bridging loan today”, but by painting the picture of a short term loan being the way your client achieves their goal of not losing out on moving into their dream home, purchasing a new rental property at auction, completing on a lifetime mortgage, becoming a landlord – the list is endless.
Why not use “short term lending” in your next client conversation and see if it works?!
Refer your clients now
With even more lenders dropping their rates, including Roma Finance from 0.65% for short term loans, now could be the perfect time to refer.
