Unusual (in The Banks Heads!) Clients That We Have Helped Recently

We have helped numerous clients during 2019 across all areas of the market allowing satisfied clients to receive the keys to their new home, remortgage to a better interest rate or perhaps develop a Buy to Let portfolio.

The opportunities available in the mortgage market are now very diverse…could we help you at some stage in 2020? Below are some examples of the types of scenarios that we have helped our clients with in the last quarter of 2019 – all of the following mortgage offers were successfully received from mainstream lenders at prime rates.

First time buyer buying an affordable home – our client approached us to look at mortgage options for a property which had a restrictive sale covenant (sometimes called a Section 106 purchase). This is a government backed scheme designed to help borrowers buy in the area in which they live/work and where they couldn’t ordinarily afford. The client had approached their bank in the first instance but they hadn’t heard of the scheme (!) and so we were able to help with both the mortgage application and the application to the local authority for approval.

Debt consolidation – our clients had racked up numerous unsecured debts and the costs in meeting these repayments was dragging them very close to bankruptcy. We were able to step in and raise sufficient capital on their remortgage to enable them to repay the debts and remove the threat of more serious action from their lives.

Bridging loan – these clients were looking to buy a new home but had yet to sell their existing property. They didn’t want to miss out on the new purchase so we were able to set up a bridging loan for them to enable the new purchase to go through. This loan was then repaid as soon as their existing property was finally sold.

Family gift – our clients are in their 80’s and were looking to release capital from their home to assist their daughter to purchase her former matrimonial home from her ex-husband. We arranged a retirement interest only mortgage to release funds and allow the daugher and grandchildren to remain in their home.

London home mover – our client was looking to move up the property ladder, but was struggling to sell her existing flat due to a slow sales market. Having established that the demand for rental property in the area was strong we facilitated a let to buy mortgage on the existing flat, releasing capital for the new purchase. A new residential mortgage was then also arranged on the new home.

First time buyer needing family assistance – our client was looking to assist his daughter in purchasing her new home and suggested a joint purchase as his income was needed to support the level of mortgage required. We arranged a joint borrower/sole owner mortgage which achieved the aims and also saved over £8,000 in stamp duty!

This is a small example of the enquiries that we have received with positive outcomes for our clients, and also demonstrates that we can help most people. We offer local, face to face, independent mortgage advice and can advise on the best solutions for you.