Remortgage Case Study

Key Figures:

Property Value: £175,000

Loan Amount: £120,000

Rate: 2.13% 3 Year Fixed

Term: 35 years repayment

Mortgage Payment: £400 pcm

What were they looking for?

A couple came to us wanting to remortgage to consolidate some unsecured debt and get a better deal on their existing mortgage. Both were in full time employment with excellent credit ratings.

Why was this case difficult?

The clients were unable to secure a remortgage with their original mortgage lender that would allow them to lower their repayments as much as they wanted or extend their borrowing to consolidate their unsecured debts.

What was the process?

We sat down with the clients and gathered the information we needed to help them make an application for a remortgage on their property. The process went smoothly with no complications.

The Solution?

We arranged the client a remortgage which allowed them to reduce their monthly outgoings by half therefore providing them more disposable income each month. We advised the client to use some of the saving to overpay their mortgage which enabled them to significantly reduce the term of their mortgage.