’s expert advice avoids foreclosure

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Tuesday March 19, 2019

Are you looking for a specialist mortgage but have some complex holdbacks? Or you’re unsure on the best solution to help your current mortgage situation? We have the banking contacts on hand to provide a tailored solution where other lenders may not be able to help. To discuss this or any other large or complex mortgage case, please contact us on 020 7519 4984 or email us.

Case Study

Our clients were a married couple with no dependents. Their property, which they had designed and built themselves, had two mortgages on it. Both of which were coming to an end but the bank had decided that they were not willing to extend the mortgages. When the couple approached’s team of expert advisers, they were facing the prospect of a forced sale of their home.

Firstly, our advisers spoke to the bank and agreed a three-month extension to their mortgages therefore averting the prospect of repossession and allowing much-needed time to put an alternative solution in place. The client was clear that their intention was to sell the property for a realistic value and had listed their home on the open market. Therefore, they needed a short-term funding solution to cover their mortgage until they found a buyer.

Complexities in the case came with the couple’s income stream. Although they had more than 30 years’ experience in property development, they had split away from their long-standing company and set up a new operation. This new commercial property development firm did not yet have a full set of accounts on which lenders would base their criteria and lending decisions. The couple had also missed a couple of credit card payments, purely through error, which was flagged as an issue for some lenders.


Having averted the risk of repossession, our expert advisers secured a 12-month bridging loan with one month’s notice. This meant that our clients could remain in their home whilst it was sold, rather than going through the trauma and upheaval of repossession plus the expense of having to move into rental accommodation in the interim.

Our solution gave the client time to sell their property for a realistic value and find a new home to downsize to in a nearby area.

Loan amount:£450,000
APRCOverall cost for comparison 10.70% APRC representative variable
Term 12 months
Type: (Interest Only/Repayment)Interest Only Bridging Loan
Loan purpose: Remortgage so repossession does not occur with existing lender so that it gives time for the sale of their property
Lenders arrangement fee2%
Early repayment charge 1 month

Please note that this specific deal may not be available to – or suitable for – all customers, dependent on their individual circumstances. The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it. This document may not contain all the information needed for customers to make a decision and they should seek advice.This case study is for information and illustration purposes only. It is not an offer, or suggestion of an offer. Each mortgage case is assessed on an individual basis and there is no guarantee that the solution described here can be repeated in the future.

Overall cost for comparison 10.70% APRC representative variable based on 12 payments at a fixed rate of 7.80% and lenders fees. Ask for a personalised illustration.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt.

To make an enquiry call us on 020 7519 4984 or visit our website.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home. is a trading name of Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.
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