Customer Profile
A self-employed couple looking to raise funds for business purposes to finish off a project.
Scenario
The clients were tied into a fixed rate with their main mortgage provided. They needed to raise £100,000. The security property was a self-build that completed in 2020 which is a special rendered house not all lenders are comfortable using as security.
Brilliant Solution
We were able to source a secured loan lender who were accepting of the property type and with the raised funds being used for business purposes.
Result
A second charge loan of £100,000 with no early repayment charges giving the clients the ability to pay off the loan at any point without incurring penalties. The loan was placed on a fixed rate of 4.1%.