New loan service launched

New loan service launched




HNW Lending has launched a new service to provide loans against the value of pension schemes….

HNW Lending has launched a new service to provide loans against the value of pension schemes.

The launch follows several approaches by company directors to HNW Lending requesting loans against their pension schemes to convert to a small self-administered scheme (SSAS), which can be borrowed against through employer authorised loans.

The HNW Lending service allows companies to borrow for their business while going through the conversion to a SSAS, which has to be registered with HMRC, and HNW will also lower its loan size to £25,000 for these types of loan.

Ben Shaw, Founder and Director of HNW Lending, said many people and businesses found it hard to secure credit even if they were a low risk.

“As a result of this we have seen a growing number of people approaching us for loans against their pension schemes, which they are converting into SSAS so that they can borrow from them,” said Ben.

“Given that they are usually successful, we are happy to lend against this.”

 

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