Refinancing

The Parameters of the product are:-

When can we look at re-finance?

• End of Term balloon re-finance
• Mid-term subject to validating the benefit to the customer
• When the customer exercises their Right to Withdraw and choose an alternative lender

What type of agreements can we re-finance?

• Hire Purchase
• Lease Purchase
• Personal Contract Purchase
• Contract Hire – end of term and subject to obtaining confirmation that title will pass in full from the contract hire company

What products can we offer on a re-finance agreement?

• Hire Purchase
• Lease Purchase

What assets can we re-finance?

• Cars
• Touring Caravans*
• Motorhomes*

Which customers can take re-finance?

• Private Individuals
• Sole Traders
• Partnerships
• Limited Companies
• Transfer cases – from Limited Company to Director and visa versa plus family member transfers as long as both resident at the same address

What are the basic criteria?

• Up to 100% of Loan to Value for homeowners and 90% for tenants
• Mid-term applications will require a copy of the original finance document for the underwriters
• Only require copy of the original lenders settlement letter as dealer invoice
• Re-finance addendum document confirming current mileage is the only additional page with document pack
• Documents can be signed via flexi-sign
• Quote and propose on-line using drop down box to identify as re-finance
• No deposit required, advance to show as settlement amount