Here at The Money Hub, we deal with a wide variety of enquiries from people that are Self Employed, clients with missed payments and defaults, to clients that have previously been made bankrupt. We take pride in assisting people, and we will show you some of the ways how we have helped our clients.
Below are some examples of the situations people were in, and how we managed to help them find a suitable mortgage solution.
Miss E – Challenge – Previously been made Bankrupt
Miss E had a relatively small mortgage of around £32,000 and she wanted to raise £11,500 for home improvements. Due to a previous bankruptcy which is now discharged, Miss E was on a rate of nearly 3% on a fixed-rate deal that was due to end with a specialist lender. We managed to obtain an offer with no product fees, no valuation fees, no legal fees, and £500 cashback at a rate of just 1.74% fixed for five years with a mainstream lender. On top of this, from first meeting Miss E, to the funds being in her account was achieved in just 17 days.
This is how we help our clients
Mr & Mrs K – Challenge – Self Employed with some missed payments
Mr & Mrs K came to us after being turned down by their existing lender and another high street bank. They wished to move to their forever home but both were Self Employed on a relatively low income, which had proved problematic for some lenders. Mr K also had missed some mail-order payments and default was recorded on his credit file which also compounded the issue. We managed to secure the couple an offer of 1.96%, fixed for five years, with no product fees, a free valuation, and £500 cashback.
Miss D – Challenge – Had Lodger Income
Miss D wanted to raise an additional £26,000 for home improvements whilst re-mortgaging to a better rate and came to us after being turned down by her own bank. She needed to use the income she received from her two lodgers to meet the affordability threshold and most banks would not allow this. By using our expertise, we managed to secure her a rate of just 1.74% fixed for five years with no product fee and no valuation fee.
Mr & Mrs G – Challenge – Change from an Interest-Only mortgage & Previous Debt Management Plan
Mr & Mrs G wanted to re-mortgage to take their £165,000 interest-only mortgage which was on a rate of 5.3% and a £22,500 secured loan they had and put them onto a repayment mortgage to ensure it is paid off before they retired. The couple had previously been in a debt management plan and were finding it difficult to secure a new mortgage at a reasonable rate. We secured the couple a two-year fixed rate of 3.19% with no product fee, free legal work, and a free valuation.
DISCLAIMER: These articles are for information only and should not be construed as advice. You should always seek advice prior to taking any action.