Large Debt Consolidation Homeowner Loan Case Study

Discover how ABC Finance homeowner loan experts helped this client secure a loan to refinance unsecured lending.

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The facility

Location

Tunbridge Wells

Capital raised

£125,000

How funds were spent

Debt consolidation & home improvements

The request

The client was looking to raise funds to refinance unsecured debts and finance home improvements.

The main applicant was a CEO of his own company and has a very strong income, but had a lot of outgoings and financial commitments while his wife had lost her job and was out of work.

The clients were fixed into a very competitive sub-2.5% fixed rate with their current residential mortgage, so we were reluctant to move him away from this.

Switching the mortgage to a new loan was likely to impact the client by significantly increasing their interest costs on their existing mortgage.

The solution

Despite the significant level of unsecured debts accrued and with only one household income, we were able to secure a loan for the applicants.

We arranged a second charge product with no ERCs, allowing the option to remortgage at their convenience with no exit penalties, once their low, fixed rate had expired.

In handling this request, we reduced their monthly outgoings from £2,505.91 down to £1,041.69 per month, while raising over £35,000 in additional capital for home improvements.

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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