Case Study: £35,000 Second Charge for Debt Consolidation Completed in 25 Hours

 Aria Finance helped a homeowner secure a £35,000 second charge mortgage to consolidate existing credit card and overdraft debt while funding home improvements, including landscaping and new carpets. With the client keen to start afresh as quickly as possible, Aria secured a rapid funding solution, with the case completing in just 25 hours.

Case Summary:

• £35,000 second charge mortgage

• Funds used for debt consolidation and home improvements

• Application packaged and submitted to underwriting within one hour

• Offer received within 23 hours

• Completed just two hours after the offer

• No valuation required

• Consent after payout accepted by the lender

The Client:

The client was a homeowner looking to raise £35,000 through a second charge mortgage. They were highly responsive throughout the process and were keen to secure the funds as quickly as possible so they could consolidate their existing debts and move forward with a clean slate.

The Situation:

Over time, the client had built up unsecured debt through a combination of credit card spending, including holidays and day-to-day living expenses, as well as an overdraft. They wanted to use the second charge mortgage to redeem these outstanding balances and simplify their finances.

Alongside the debt consolidation, the client also wanted to make a number of improvements to their home. The funds would be used for landscaping, new carpets and general works around the property.

Speed was particularly important to the client, who wanted to complete the process as quickly as possible and start afresh financially.

Our Solution

Aria Finance identified a suitable second charge mortgage solution that allowed the client to raise the £35,000 required without the need for a traditional property valuation. The lender also accepted consent after payout, helping to remove potential delays from the process.

The application was sent at 3pm on a Thursday, packaged and submitted to underwriting by 4pm the same day. The application was offered by 2pm the next day and completed just two hours later at 4pm.

The application was made on a sole basis, with a waiver required for the client's partner. Aria managed the process closely and maintained clear communication throughout, helping to keep everything moving at pace.

Benefits & Results:

The client was able to raise the full £35,000 required and use the funds to consolidate their existing credit card and overdraft debt, while also carrying out planned improvements to their home.

Most importantly, Aria completed the second charge mortgage within just 25 hours of the case being sold. The speed of completion gave the client the opportunity to settle their existing debts and move forward with their plans almost immediately.

The case demonstrates how the right second charge mortgage can provide a flexible funding solution for homeowners looking to consolidate debt and fund home improvements, particularly where speed is a priority. Aria's specialist knowledge, lender relationships and hands-on approach enabled the application to progress from submission to completion in a matter of hours.