Case Study: Client needed funds to pay-off debts, for home improvements, but had three different income sources

Loan: Second charge mortgage   |   Amount: £94,000   |   LTV: 60%   |   Term: 20-years

Every broker knows that when they have a client that doesn’t quite meet the usual lending criteria, resourcing funding options can be a challenge. It can cause great anxiety to the client and jeopardise their financial plans. As a specialist finance master broker, we can take the stress away from both you and your client as we can take on your complex cases with a higher success rate that’s higher than the industry average.

The Client

Husband and wife with three children were homeowners. He was a police officer and a director of his own company. She worked for the local council as an office manager. Both were very busy working and raising a family and didn’t have a lot of free time.

Situation

It’s very difficult to find lenders that will take multiple incomes into consideration, especially if one source is from a self-employed role. For us at Aria Finance, we know our lenders very and have forged extremely strong relationships with them, so when a broker approached us with this case, we knew the perfect solution. The client wanted £94K to conduct some improvements to their house and pay-off some credit cards and loans.

Our solution

Upon receiving the case, we contacted one of our lending partners and explained the situation of the client and their needs. We sort a quick solution from the lender as the client was keen to make the home improvements as soon as possible but didn’t have the time for a lot of meetings. We determined that the best option was a second charge mortgage as we could arrange that quickly easing the stress in the client and saving them month due to the debt consolidation.

Result

With all our expertise and experience we’re able to take on those complex cases and get them resolved quickly getting clients the funding they need, fast!

Benefit

Due to our forward thinking and our principle of maintaining good relationships with our lenders, we were able to get the funding the client needed. As a result, they were able to pay off their debts and make their home improvements that increased the value of their home. All in a very short period of time.