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Case Study: Second Charge Mortgage for Clients with Complex Affordability Structure

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Loan type: Second Charge Mortgage   |   Amount: £261,042   |   LTV: 37.5%   |   Term: 8 years

The Client:

The clients were a married couple, who were both directors of 3 Limited Companies, 2 of which were startups. They resided in a 5-bed detached home.

The Situation:

There was an existing bridging loan in place, that had originally been obtained for business purposes. When the enquiry arrived at Aria Finance the redemption stage of the bridge was drawing close. The clients needed finance quickly to redeem the bridge and avoid any additional charges from the outstanding bridge. 

The challenge laid with the nature of their businesses, due to 2 of the 3 being startups, only the income from one of the businesses could be used.

Our Solution:

From our affordability assessment, we quickly identified that an interest-only second-charge product would be the only suitable option. Due to the short time frame before the bridge needed to be redeemed, the case required Aria Finance's renowned approach of acting with speed and efficiency.

To ensure the case moved quickly we placed the case with a lender that could be flexible on the affordability calculations. The lender allowed accountant's certificates and were able to work from projected income for the startup companies. In addition, the lender was able to take pension income into consideration. 

The lender's flexible approach to the exit strategy meant that they were able to offer an interest-only second-charge mortgage.

Benefits & Results:

Our extensive panel of lenders and close relationships mean that we know which lenders will have the appetite and suitable criteria for a case like this with a complex affordability structure.

By working with Aria Finance the clients were able to redeem the outstanding bridging loan within the strict time constraints and continue to grow their business operations.


Over 20 years of experience

Why choose Aria?

With over 20 years of experience in bridging finance and the specialist distribution industry, our expert team works on your behalf to provide access to market-leading rates with rapid loan completion as standard. We offer one point of contact from enquiry through to completion, always aiming to make the process as smooth as possible.
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