News and Updates

Product Update
Product updates for December (more...)
Wendy Powis, 05 Dec

TMA expands secured loans panel with Promise
The Mortgage Alliance has announced the addition of Promise Solutions to its secured loans lending panel. (more...)
Steve Walker, 05 Dec

White Label withdraws from market
White Label Loans has withdrawn from the secured loan market for the foreseeable future (more...)
Wendy Powis, 24 Nov

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Articles

Is that a green shoot?
September could prove to be an interesting month (more...)
Steve Walker, 27 Aug

The Changing Market
Demand for debt solutions rises (more...)
Steve Walker, 17 Jul

Dealing With Debt
Debt management or consolidation looks set to take off (more...)
Steve Walker, 26 Jun

LoanTalk
Credit Crunch questions the way we all work (more...)
Steve Walker, 19 Jun

Mortgage Strategy – MPPI
MPPI – Making the choice (more...)
Steve Walker, 29 Jan

Mortgage Solutions – Mortgage Protection Feature
Brokers and borrowers should also be examining the financial safety nets... (more...)
Steve Walker, 10 Jan

Loan Distributor – Head to Head
Have you seen an increased demand for IVA /debt management products….. (more...)
Steve Walker, 10 Jan

Brokers need to remove HIP blinkers
Brokers need to stop viewing HIPs as an unnecessary imposition and start recognising them as a valuable additional income stream, advises Promise Homepacks (more...)
Steve Walker, 10 Dec

Make a secure choice
Why a secured loan should be considered (more...)
Steve Walker, 05 Oct

Mortgage promotions supports promise loan sourcing software
(more...)
Steve Walker, 01 Oct

Secured loans offer brokers a lucrative additional income stream
(more...)
Steve Walker, 01 Oct

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What is an IVA (Individual Voluntary Arrangement)?

  • Customer must be in financial difficulty
  • Customer must have a debt size of £15,000 or more
  • Customer must have 3 or more different creditors
  • A formal arrangement through the County Court to pay an agreed amount of your debts over a fixed period
  • Customer will pay one affordable monthly payment for 5 years
  • After 5 years any debt remaining is written off
  • Customers can avoid bankruptcy and safeguard their property
  • All correspondence, telephone calls will stop once the IVA has been approved
  • Customers may be asked to re-mortgage their property in the fourth year to release equity / cash injection into the IVA
  • May write off a percentage of the debt
  • Credit file maybe affected, however after the 6th year credit file will seem clear

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Registering gives you access to Secured Loans, Mortgages, Unsecured Loans as well as a Debt Management solution, so you can find the right product for your customer from the options available. Read more about Promise Sourcing and Packaging. Register or Login
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