High Debt To Income Ratio Homeowner Loan Case Study

Discover how ABC Finance homeowner loan experts helped this client secure a homeowner loan with very limited affordability.

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The facility

Location

Tamworth, Staffordshire

Capital raised

£76,300

How funds were spent

Debt consolidation

The request

Our clients had a high loan to income ratio and after approaching several lenders, we got the case to their underwriting department, only for the case to be declined based on the lender deciding that they were over-subscribed financially.

The challenges around meeting lender criteria for income made this case more difficult to fund.

We don’t like giving up, so rather than rejecting the clients, we reviewed the case again, recommended a product transfer for their main mortgage and then approached a second charge provider, explaining that we could reduce our clients’ outgoings from £1,670.95 to £598, inclusive of our competitively priced £1,495 broker fee and lenders product fee.

The solution

Once we’d helped the client to restructure their existing mortgage, the applicants were now able to meet lender affordability criteria.

The clients then received their funds within 4-weeks to clear all their debts and have some financial breathing-space.

They were very grateful that we persevered in being able to assist them when one avenue was closed off, we didn’t give up.

Gary Hemming

Commercial Lending Director

Why work with ABC Finance to get a homeowner loan?

Our team at ABC Finance are true experts in homeowner loans. We’re focussed on helping our clients to secure the best deal on their finance, quickly.

That’s why we offer market leading, fixed £1,495 broker fees on homeowner loans, no matter how much you borrow. Get in touch today and save thousands compared to what you’ll pay through the big comparison sites!

01922 620008

enquiries@abcfinance.co.uk

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