Due to real cost of borrowing in the market increasing - due to lack of liquidity, Finance House Base Rate has gone up again this month to 7% (6.5% September and 6% previously). We link all our agreements to bank base which is tipped to reduce by 0.25% either this month or next and further cut within the next 6 months.
Given the huge disparity between FHBR and Bank, I will now consider re-financing Lease Purchase Balance Payment agreements taken out on the forecourt which are linked to FHBR - Finance House Base Rate.
I will consider applications of this nature under the following circumstances:
1) The outstanding finance is in excess of £25K
2) There is clear equity in the car i.e. loan to value not to exceed 90%
3) The applicant exceeds our normal acceptance criteria of:
* Homeowner
* Business or company principal or professional or annual income of £50K+
* Clean credit history
The new agreement will be at an attractive rate over bank base and will be much cheaper than dealer offered finance. The new agreement will have a special discounted admin fee of £100.00 collected with first direct debit. The agreement will carry no penalties for early settlement.
Should you wish to apply, please request a settlement fax from the funder, dig out your original agreement and call me to discuss the specific benefits and savings.
Given the huge disparity between FHBR and Bank, I will now consider re-financing Lease Purchase Balance Payment agreements taken out on the forecourt which are linked to FHBR - Finance House Base Rate.
I will consider applications of this nature under the following circumstances:
1) The outstanding finance is in excess of £25K
2) There is clear equity in the car i.e. loan to value not to exceed 90%
3) The applicant exceeds our normal acceptance criteria of:
* Homeowner
* Business or company principal or professional or annual income of £50K+
* Clean credit history
The new agreement will be at an attractive rate over bank base and will be much cheaper than dealer offered finance. The new agreement will have a special discounted admin fee of £100.00 collected with first direct debit. The agreement will carry no penalties for early settlement.
Should you wish to apply, please request a settlement fax from the funder, dig out your original agreement and call me to discuss the specific benefits and savings.
