Our client required a mortgage of £350,000 in order to purchase a residential property worth £650,000. The mortgage he required was easily affordable but due to a recent loss in the family which had resulted in our client missing a number of mortgage payments, he was finding it exceedingly difficult to locate a lender that was willing to offer him the mortgage he required.
With access to every lender on the market and close working relationships with a huge range of banks and building societies, Private Finance’s brokers are uniquely positioned to find solutions to problems such as this where a human touch is required.
When a client has a genuine, unavoidable, and provable reason for previously missed mortgage payments, it is often possible to find specialist lenders who are willing to assess the application pragmatically, factoring any relevant extenuating circumstances into their decision-making process.
This is precisely what our broker did on this occasion, and he was ultimately able to secure our client a two-year fixed mortgage for the full amount he required with a rate of 1.79%.