When clients face urgent financial pressure, speed and expertise are essential. Aria Finance was approached by a broker whose clients were at immediate risk of losing their home after their interest-only mortgage reached the end of its term. With repossession proceedings already underway, completion needed to happen within two weeks.
The Client:
The clients were a married couple, aged 79 and 72, living in their only property, a four-bedroom detached house valued at £865,000. With just the two of them in a large family home, they wished to downsize to something smaller and more manageable for their later years.
The property was already on the market, though it had been listed for some time without progress due to issues with the previous estate agent. Just two weeks before coming to Aria Finance, the couple had moved to a new agent and had since experienced several viewings and strong interest, giving them confidence that a sale would soon be agreed.
The Situation:
A series of unfortunate life events had left the clients unable to repay their interest-only mortgage when it reached the end of its term. Their existing lender had begun repossession proceedings, placing them at immediate risk of losing the home they had lived in for many years.
To prevent repossession and provide the time needed for the property sale to complete, they required a fast, flexible funding solution that could complete within two weeks.
Our Solution:
Aria Finance moved quickly to source a lender able to operate within the tight timeframe. We secured a bridging loan, with the lender agreeing to use an AVM (Automated Valuation Model) to accelerate the process and avoid delays associated with physical surveys.
To support the speed required, Aria also introduced a solicitor known for rapid turnaround times. By working closely with the lender, solicitors, broker, and clients, all parties were aligned throughout the process, enabling the loan to proceed from application to completion in just 11 days.
The agreed exit strategy for the loan was the sale of the property, which was already attracting renewed market interest following the appointment of the new estate agent.
Benefits & Results:
The repossession proceedings were successfully halted, allowing the clients to remain in their home while progressing their planned move. The bridging loan enabled them to fully repay their existing interest-only mortgage, removing the immediate financial threat. Aria’s fast, coordinated approach ensured completion well within the two-week deadline, giving the clients the time and stability needed to secure a suitable sale of their property and move forward with a downsized home more appropriate for their needs.
