Step-Up Loans

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Short Term Loans

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Short term loans of up to £5,000 with flexible repayments from 3 to 60 months with a decision in 60 seconds*
With one simple application, you can match with a loan quote in seconds. We work with reputable lenders to give you the best chance of getting the loan you deserve.

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Join over 1 million customers we’ve helped with short term loans since 2012

Why so many have applied to us:

Borrow between £250 and £5,000
Bad credit applicants welcome
100% no obligation, FREE application
Access to many lenders, with one quick form
NEVER any hidden costs or fees
Paperwork often not required
Easy reapplication to find another lender
2048 bit secure encryption

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Representative example:

£400 borrowed for 90 days. The total amount repayable is £561.92 in 3 monthly installments of £187.31. Interest charged is £161.92, interest rate 161.9% (variable). Representative 305.9% APR. Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

We do not charge borrowers a fee for the use of the brokerage services, but we receive a commission from lenders or other brokers where borrowers enter into a consumer credit agreement with lenders and brokers following an introduction through this website. As a broker, we process the information you provide us and pass this onto our trusted third party lenders and brokers to help you apply for a loan. For more information on how we handle your data see our Privacy Policy.

We are a licensed credit brokerage business authorized by the Financial Conduct Authority, which effects introductions between borrowers and lenders as well as other brokers, for the purposes of entering into loan agreements. The operator of this website is not an agent or representative of consumers or any lender and does not endorse the services offered by specific lenders.
© 2020 Moolr.co.uk © Moolr.co.uk is a registered Trading name of ESL Consultancy Services Ltd, with registered address 20-22 Wenlock Road, London, N1 7GU. ESL Consultancy Services Ltd is authorized and regulated by the Financial Conduct Authority (reference number 835333), and registered with the Information Commissioners Office (registration number ZA464347).

“For all your Purchase, Remortgage, and BTL needs, Fixed Price Conveyancing is available. Click here for your personal illustration 24/7″

You may wish to read this Article too – Covid Chaos

And if you are a Business, you may wish to read this – Stay Safe

Let us say “Yes, we can help” – Short Term Loans

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

Have you considered Energy Switching with BillBuddy?

“For all your Purchase, Remortgage, and BTL needs, Fixed Price Conveyancing is available. Click here for your personal illustration 24/7″

Credit Scores Protected When Using A Payment Holiday

Leave a Comment / Blog, Loans, Miscellaneous / By admin

For your no-obligation, secured loan quote, click HERE

Credit Scores will be protected during the Covid-19 period when payment holidays are being taken, say the three main credit reference agencies, Experian, Equifax, and TransUnion.

During March 2020, the Government announced that homeowners impacted by the current crisis could ask their mortgager lender for a payment holiday of up to three months, for both Residential and Buy-to-Let customers. The agencies are implementing a special measure called an `Emergency Payment Freeze’ to ensure that credit scores are protected for the duration of an agreed payment holiday. Our understanding is that individual credit reference files will not show a missed or late payment, which is of critical significance to keep credit scores intact, and whatever the individuals score level is, this will not be negatively affected and remain unaltered until after the `freeze’.

In addition to the Government guidance on mortgages, lenders may also be able to make special arrangements across other forms of credit. These may include payment holidays, reduced payments, paused payments or increased credit limits, all covered by the `freeze’ arrangement.

However, what is not known when moving forwards, is how lenders will view the borrowers needs when having taken a payment holiday. The individuals score may not be affected, but the diligence of heightened underwriting and assessment of lender risk may come in to play. Lenders do not like risk, they do not like lending to those who have demonstrated an inability to maintain payments.

The remainder of 2020 will certainly become the New Normal, as was the effect of the 2008 crash.

“For all your Commercial Mortgages, Business Loans, Cashflow Finance, BTL, and HMO Mortgages, click here “

You may wish to read this Article too – Covid Chaos

And if you are a Business, you may wish to read this – Stay Safe

Let us say “Yes, we can help” – Credit Scores Protected When Using A Payment Holiday

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

“For all your Purchase, Remortgage and BTL needs, Fixed Price Conveyancing is available. Click here for your personal illustration 24/7″

Tax Bill or Tax Demand?

1 Comment / Blog, Debts, HMRC / By admin

You may already know this, however, many people remain unaware that HMRC no longer accepts card payments.
This applies to both personal and business tax – You can no longer pay your Tax bill or Tax demand, nor NI Contributions using a credit card. The thought process is that “if you need to pay tax upon earnings, you have already earnt the money, therefore there should be no need to borrow it”.

However, although you can’t borrow on credit cards, you are still allowed to borrow, or capital raise, using personal or business loans.

Here are a few solutions to consider:

Regulated Second Charge, Third Charge, or Equity Loans

There is a massive choice of up to 100% of your property value – even with a little adverse, such as missed payments or other minor credit issues
Interest rates start at around 3.5% and depend upon your personal circumstances
Heavy adverse such as CCJ’s and recent mortgage or loan arrears are considered at up to 75% of your property value
Proof of the affordability of borrowings will be required but there are lenders available with no Loan-To-Income cap, and those who take a sympathetic view on contractors, benefits, etc.
Loans are available for both personal and/or business tax demands or bills

Unregulated Loans

Some lenders will make an advance to a business and secure the loan upon the main residence
Start-Up loans or poor trading accounts – Some lenders will consider using your cash flow forecasts
Some lenders will lend without equity or, indeed, will consider lending on a totally unsecured basis, even with adverse credit if the story makes sense
We have numerous lenders covering specific different geographical areas in the country – Ask us what’s available in your area

When borrowing over more than one year to pay a tax bill, perhaps you should ask yourself “what’s the plan for next year?” so that you don’t dig an even deeper hole with HMRC.

Taxes are unavoidable, and poor planning of payment can cause enormous strain upon you, your family, or your business – Watch out for tips we will be providing in further articles.

You may wish to read this article too: A Reduction in Outgoings

Let us say “Yes, we can help” – Provide funds to pay a Tax Bill. or Demand

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

Why Was My Mortgage Declined?

Leave a Comment / Bad Credit, Debt Consolidation, Debts, Loans, Miscellaneous, Uncategorized / By admin

Did you know that, on average, 340 mortgage applications will be declined today?

Small comfort, especially if it was you who received the No.

Specialist lending is an area of growth, it is rising from the need for solutions to consumer problems that the high street lenders cannot hope to solve. These high street names have massive reserves, as dictated by Regulation. The media-hype leads us to believe these lenders want to help, however, this is a far cry from the truth, the simple fact is that they do not want risk, they will not consider risk, and they will not lend where a risk may even be of their own perception and making.

Yet the very fact they perceive there is a risk, does not, however, mean the risk is real.

As peoples’ lives change and evolve, mortgage and loan applications will continue to increase in complexity, and complexity does not sit comfortably with risk appetite, nor tick-a-box criteria checklists. Therein lies the problem… You cannot fit a round peg into a square hole – you need a corresponding round hole for everything to fit well.

Anyone classed as complex, outside-the-box, or having minor adverse credit, now has the chance to obtain mortgages and loans that until recently, were simply not available mainstream.

How are needs changing? Here are a few thoughts for you, in answer to the question “Why was my mortgage declined?”

Since 2008 (the year of the Crash) there has been a 25% increase in self-employed workers
Over 1 million people are now on Zero-Hours contracts
1 in 7 people will be over 75 years old by the year 2040
On average, 3,311 County Court Judgements were registered every day during 2017
Consumer debt is growing, it has already reached £1.59 Trillion

Credit blips, missed or late mortgage, loan, credit card or utility bill payments, are becoming ever-more common.

Here at Step-Up Loans, we are proud to boast that as an Independent, we have access to the whole marketplace of lenders, not just a few favourites or a restricted panel. If it can be done, we are able to do it, whether it is for personal use or business purposes. Whether employed, self-employed, zero-hours or a contractor. Whether you are 21, 61, or 81. And in certain cases, whether you are not a homeowner but are able to have a Guarantor who is.

Your best plan is to call us directly – Everyone is different, everyone has a story to tell.

Let us listen to your story and find the solution that’s needed.

Let us say “Yes, we can help” – Have you had a mortgage application declined?

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

apply for a loan here — Get your free Quote here

Do You Have A Bad Credit History?

Leave a Comment / Bad Credit, Blog, Buy-to-Let, Debt Consolidation, Debts, Loans / By admin

Do you have a bad credit history?

We are working with a specialist provider of residential second charge loans and mortgages, lending to customers who are unable to obtain finance from traditional high street lenders.

There are many reasons why the High Street declines someone, here are a few reasons.

You may have up to six months current mortgage arrears, due to personal unforeseen issues? Usually, any arrears are an auto-decline on the High Street.
This understanding extends to arrears on subsequent charges, following the main lender. Many second charge lenders will allow such a credit blip.
Loans of up to £100,000 may be available, with higher limits upon underwriter referral.
Any amount of CCJ’s and defaults, past and present, may be considered.
Do you have a pending bankruptcy action for Income Tax? We can help, as this issue is becoming more common.
Loans are also available on Buy-to-Let properties.
As well as vanilla Standard Variable Rates, both 3 and 5 year fixed rate plans are available.

Let us say “Yes, we can help” – Do you have a bad credit history?

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

“For all your Purchase, Remortgage, and BTL needs, Fixed Price Conveyancing is available. Click here for your personal illustration 24/7″

Have You Considered A Second Charge Loan?

Leave a Comment / Bad Credit, Blog, Buy-to-Let, Debt Consolidation, For Business, Home Improvements, Loans / By admin

Have You Considered A Second Charge Loan?

Are you looking for a Remortgage or a Further Advance?
You can count on us to find the right home for your needs.
Thousands of second charge mortgages have been arranged in recent years, from an extensive panel of lenders across the whole of the marketplace.
They can be a great alternative for you when:

You fail an affordability test with your main first charge mortgage lender
You have an Early Repayment Charge on your first charge
Your current mortgage is Interest Only, and any changes would withdraw this option
You are benefiting from an existing low mortgage rate but want to raise capital
You are wishing to capital-raise for business purposes, including deposits for buy-to-let mortgages
You are keen to retain your current mortgage product but now have historic adverse credit.

Additional factors include:

Up to 100% of property value may be possible
Interest rates are comparable with regular mortgage rates
Variable rates and fixed rates are available, fixed for up to 5 years
The loan term may be from only 3 years, running all the way up to 30 years
The loan amount may be from £3,000 to £1,000,000+
You may be an Employee, Self-Employed, Expatriate, Portfolio or first-time Landlord or a Limited Company
There are usually no Early Repayment Charges associated with Second Charge Secured Loans

Any questions? Get in touch today.

Let us say “Yes, we can help” – Have you considered a second charge loan?

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

A Reduction In Outgoings

1 Comment / Blog, Debt Consolidation, Debts, Home Improvements, Loans / By admin

A reduction in outgoings.

Second Charge mortgages can offer the ideal alternative to a remortgage, further advance or unsecured loan. This is why they can be really useful for those who desperately need to reduce their monthly outgoing costs.

Here’s how a customer was helped to reduce their monthly outgoings by £291 a month, in just 6 days from the application being received from the customer:

Situation.
Unsecured debt balance: £25,000
Average monthly payments: £666
The client needed to consolidate her debts to reduce her monthly payments. In addition, she wanted to finance a new bathroom at a cost of £5,000.

Challenge
The client did not want to raise additional finance through a further advance, or a remortgage due to the resulting high redemption penalties.
The client had already been rejected for unsecured loans because of her high outgoings.
Plus, the client wanted protection against possible rate increases for 5 years and the ability to overpay without penalties.

Solution
In just 6 days, the customer received their funds:

£30,000 over a 20-year period
Monthly payments reduced to £375, which is a £291 reduction in their outgoings each month
Fixed-rate for 5 years
No Early Repayment Charges, allowing them to remortgage later, or make overpayments anytime

With rates from around regular mortgage rates and loans of up to £2,000,000, Second Charges can be used for a wide variety of both reasons, and clients. So why not contact us now?

Let us say “Yes, we can help” – A reduction in outgoings

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

Even More Reasons For A Secured Loan

Leave a Comment / Blog, Buy-to-Let, Debt Consolidation, Loans, Retirement, Unusual Cases / By admin

Even more reasons for a secured loan.

I would recommend that you take a quick look at some of the key elements below. Perhaps you, your family or friends fall into one or more of these areas?
Here at SUL, I still have access to the largest second charge panels in the marketplace so if I can’t place a case, I doubt anyone can. I remain fully Independent. Feel free to contact me using the details below this article.

For Residential Owner-Occupied Homes

Examples of acceptable circumstances for Contractors and those with short work history:

6 months contract or a rolling 3-month contract renewed at least once
Umbrella companies acceptable
Contracting less than 12 months – Weekly contract rate x 46 (minus expenses)
Only 1-year track record of employment in the same line of work required

Acceptable Properties; usually unacceptable for mortgages:

Ex Local Authority flats/maisonettes
Flats above commercial premises
Flats above take-away, restaurants, pubs
High rise flats and deck access

For those with large families:

Up to 4 applicants accepted with all incomes considered
Second charge applicants do not have to be on first mortgage
Borrowing may run into retirement
Up to age 85 at end of term
Current income used if retirement is more than 10 years away

For cases where Interest Only is preferred:

Up to 60% of property value can be used
An investment vehicle or downsizing may be used as an exit route
An Impaired Credit History is acceptable
Current Debt Management Plans may be considered
Up to 3 CCJ’s and 2 missed mortgage payments are allowed, up to 70% of the property value
Up to 3 missed unsecured payments in last 6 months are allowed
Telecoms missed payments ignored

Buy to Let

Owned personally, by a trading company or an SPV
Portfolios of up to 15 properties
Older or retired landlords – interest only up to 75% of property value and up to age 95 at end of term
Expats – No minimum income required
Impaired credit plans available
HMO’s up to 8 bedrooms and multi-unit blocks up to 5 units

Many independent lenders have numerous individual underwriting niches which on their own are valuable and can fill the gaps on tick-box circumstances.

Let us say “Yes, we can help” – Even more reasons for a secured loan

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

Why Should You Consider Second Charge Mortgages?

Leave a Comment / Bad Credit, Blog, Debt Consolidation, Debts, Loans / By admin

Why Should You Consider Second Charge mortgages?

Second Charge Mortgages can be considered as a viable solution for debt consolidation, and they provide products that are affordable and sustainable.
There are few restrictions on meeting criteria and they can offer full consolidation almost no matter what the level of unsecured debt. This reduces your monthly commitments and outgoings, as many of these debts are a percentage of loan outstanding each month, and often place a financial strain on you.

We can help you on the journey back to high-street lending.
No limit consolidation
Loans up to £1,000,000
Loans of up to 95% of your property value
All credit profiles considered

Better Rates
Here, we don’t rely solely upon generic or data-driven, tick-a-box sourcing systems. Around half of our cases have found a better solution and interest rate by being underwritten manually, compared to those presented electronically, as we have a deeper understanding on the human side of underwriting and lending. Your personal circumstances are always taken into account.

Experienced Advisors
We rely on a team of personnel that are minimum CeMAP qualified (the industry standard) and with a minimum of 5-years experience in second charge mortgages and loans, therefore you can be assured of a responsible outcome.

Let us say “Yes, we can help” – Second charge mortgages

Office Telephone: 01379 644061

Office Mobile: Call, SMS, Text, Whatsapp, BBM or Viber, 07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME