--- title: How we helped customers to reduce their monthly outgoings and free up £1k in debt payments description: Here's how our efficiency, expertise and very speedy completion of a Second Charge mortgage enabled a client to address his monthly outgoings. image: https://www.ariafinance.co.uk/hubfs/24.jpg --- [020 8731 5333](https://www.ariafinance.co.uk/en/case-studies/how-we-helped-customers-to-reduce-their-monthly-outgoings-and-free-up-1k-in-debt-payments#) [Customer support](https://www.ariafinance.co.uk/en/case-studies/how-we-helped-customers-to-reduce-their-monthly-outgoings-and-free-up-1k-in-debt-payments#) [![enterpriselogowhite](https://www.ariafinance.co.uk/hubfs/enterpriselogowhite.svg) ](https://www.enterprisefinance.co.uk/) [![enterpriselogocolour](https://www.ariafinance.co.uk/hubfs/enterpriselogocolour.svg) ](https://www.westoneloans.co.uk/) [Login](https://portal.westoneloans.co.uk/login/) [Contact Sales](https://www.ariafinance.co.uk/contact) [Investors](https://www.ariafinance.co.uk/en/case-studies/how-we-helped-customers-to-reduce-their-monthly-outgoings-and-free-up-1k-in-debt-payments#) [Customer support](https://www.ariafinance.co.uk/en/case-studies/how-we-helped-customers-to-reduce-their-monthly-outgoings-and-free-up-1k-in-debt-payments#) [0333 123 4556](https://www.ariafinance.co.uk/en/case-studies/how-we-helped-customers-to-reduce-their-monthly-outgoings-and-free-up-1k-in-debt-payments#) [020 8731 5333](tel:02087315333) [Back to Case Studies](https://www.ariafinance.co.uk/en/case-studies) July 8, 2021 # How we helped customers to reduce their monthly outgoings and free up £1k in debt payments [Second charge mortgages](https://www.ariafinance.co.uk/en/case-studies/tag/second-charge-mortgages) ![](https://www.ariafinance.co.uk/hubfs/24.jpg) | **Loan Type:** | [Second Charge Mortgages](https://www.ariafinance.co.uk/second-charge-mortgages/) | | --- | --- | | **Loan Value:** | £95,000 | | **LTV:** | 55% | | **Loan Rate:** | 4.05% | | **Loan Term:** | 21 Years | When making the decision to carry out a home improvement project, set yourself an affordable budget and stick to it. It can be very easy to get to spend more than you can afford without good planning. One of our clients, unfortunately, got very carried away with a recent home renovation project during lockdown by continuously increasing the works that were being done on their home, without researching the costs first. The clients inadvertently spent more on credit cards than they realised and ended up with high credit card balances that created monthly payments to an unmanageable level. This case study demonstrates how we were able to eradicate their stress with a second charge mortgage, which reduced their monthly payments by £1,268. **Client**   The clients were a couple with good jobs. He was a deputy manager for a Global Semiconductor Manufacturer and his partner an Operations Manager for the local council. ### **The situation ** The clients needed to borrow money to consolidate unsecured debt, which had built up through paying for extensive works to be completed on their property. They needed to consolidate the debts onto the house, into one manageable payment, reducing the interest rate applied and monthly outlay. ### **Our solution ** The most suitable product for this situation that we were able to source was a 5-year fixed-rate mortgage, this would provide stability for the first five years of the second charge mortgage. ### **Benefit** We are extremely customer-focused and are committed to your case from the very beginning. By coming to Enterprise Finance, clients benefit from our expert product knowledge, proactive service and support, and a high conversion rate. ### **Result** We made a huge impact on our clients, by helping them to reduce their monthly outgoing and free up to £1k in debt payments and bringing their DTI back to a suitable level for high street lenders. This improved their chances of being able to remortgage going forward. This instantly relieved the stress they were under having to juggle their finances and being constant mortgage prisoners, due to the DTI ratio. We have given the clients the opportunity to start putting money aside as a safety net, preventing getting into this situation again. But, the most important thing is that the client’s overall desire to have their dream home is now complete, their house looks fantastic and they are very pleased with the overall outcome. For a quick chat, a meeting to discuss opportunities, or a more complicated deal on your desk – **[drop us a line](https://www.ariafinance.co.uk/contact/)** or give us a call today on **[020 8731 5333.](tel:02087315333) ** [![Second charge mortgages, explained](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/2273596/1a82dac7-bfe1-4d0e-9118-ff2db99db678.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/2273596/1a82dac7-bfe1-4d0e-9118-ff2db99db678) - [Second charge mortgages](https://www.ariafinance.co.uk/en/case-studies/tag/second-charge-mortgages) ![Hero Curve](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Curves/grey%20semicircle.svg) ## Related blog posts [Second charge mortgages](https://www.ariafinance.co.uk/en/case-studies/tag/second-charge-mortgages) July 8, 2021 ## [Case Study - £57,000 Second charge mortgage completed in 3 days](https://www.ariafinance.co.uk/en/case-studies/57000-second-charge-mortgage-completed-in-3-days) [Bridging loans](https://www.ariafinance.co.uk/en/case-studies/tag/bridging-loans) July 8, 2021 ## [Case Study - Development project saved by £680,000 bridging loan](https://www.ariafinance.co.uk/en/case-studies/680000-bridging-loan-to-complete-development-project) [Back to blog](https://www.ariafinance.co.uk/) ### Subscribe to our blog ![warning sign](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Icons/alerticon.svg) This information is intended for professional intermediary use only and must not be distributed to potential customers. ##### Intermediaries - [![green circle](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Icons/greencircle.svg)Second charge mortgages](https://www.ariafinance.co.uk/second-charge-loans/) - [![blue circle](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Icons/bluecircle.svg)Bridging loans](https://www.ariafinance.co.uk/bridging-loans/) - [![orange circle](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Icons/orangecircle.svg)Development finance](https://www.ariafinance.co.uk/development-finance/) - [![red circle](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Icons/redcirc.svg)Complex buy-to-let mortgages](https://www.ariafinance.co.uk/complex-buy-to-let/) - [![turquoise ](https://www.ariafinance.co.uk/hubfs/EPF%20Website/Icons/tealcircle.svg)Commercial mortgages](https://www.ariafinance.co.uk/commercial-mortgages/) ##### [Resources](https://www.ariafinance.co.uk/resources) - [Blog](https://www.ariafinance.co.uk/blog) ##### Company - [About us](https://www.ariafinance.co.uk/about-enterprise) ##### Legal - [Privacy policy](https://www.ariafinance.co.uk/privacy-policy/) - [Modern slavery statement](https://www.enragroup.co.uk/modern-slavery-statement/) - [Complaints](https://www.ariafinance.co.uk/complaints-procedure/) [![enterpriselogocolour](https://www.ariafinance.co.uk/hubfs/enterpriselogocolour.svg "enterpriselogocolour")](https://www.enterprisefinance.co.uk/) © Enterprise Finance 2021 | Part of Enra Specialist Finance [**](https://twitter.com/enterprisefin) [**](https://www.linkedin.com/company/enterprise-finance-ltd?trk=top_nav_home) ### Get in contact Enterprise Finance Ltd is authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 302964. Certain types of loans are not regulated, for example loans for business purposes or certain buy-to-lets. Enterprise Finance Ltd is registered with the Information Commissioners Office. Registration Number: Z6765361 Enterprise Finance Ltd is registered in England and Wales. Company Number: 04440152. Registered Office Address: The Edward Hyde Building, 38 Clarendon Road, Watford, WD17 1JW. This information is intended for professional intermediary use only and must not be distributed to potential customers More Info Hide Info