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As one of our brokers you can source client solutions across multiple sectors, submit and track their cases 24/7.
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As one of our brokers you can source client solutions across multiple sectors, submit and track their cases 24/7.
Need to register? Click here to start using our sourcing and case management system
Call us: 01277 500 900
A customer wanted to raise £70,000 to extend the size of the family home due to the recent addition of twins. The customers first charge mortgage lender declined their application for a further advance due to acquiring adverse credit since taking out the mortgage.
The customer had been made redundant 2 years prior, and had missed some payments on a credit card that led to an unsatisfied default.
The customer had looked at re-mortgage options but the applicable rates for their current circumstances was in the region of 6% and would mean they’d lose their current mortgage rate of 2%.
After discussing the case with the introducer, Brightstar were able to raise the full £70,000 on a very competitive rate of 4.7% whilst keeping the current mortgage in place.
READ MORE about when a second charge mortgage can be useful
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