Homeowner Loan Secured To Fund Legal Fees

The request

Our client, a divorced man was taking his ex-wife to court for more access to his 6-year-old son.

The client was facing a number of challenges including difficulty meeting lender affordability criteria, higher than average monthly expenditure, 85% loan-to-value as a second charge and other debts in the background.

The client had been to other brokers who were going to charge him in excess of £4,000 in fees which would severely impact the available funds that he was trying to raise to fight his case in court. For this reason, a broker with low fees was imperative for the borrower.

Furthermore, most lenders argued that the client would not be better off financially as a result of this exercise.

Now, while this is technically true, the extra time he would be able to spend with his young son is a humanitarian gain. For this reason, we looked at the whole picture, his intentions and emotional needs – not just focusing on the financial aspect.