September 13, 2016
September 13, 2016
An adviser approached us with a client in need of finance. The married couple had a property, the value of which was £440,000 with a £193,000 mortgage with A&L.
The current mortgage deal was a life time tracker at 0.35% of BBR.
The client wanted to raise £47,250. £30,000 was to clear unsecure debt that was costing the client £1,800 per month. £17,250 was to give to their daughter for her wedding.
A remortgage was not the best option for the client because they did not want to lose the great rate they already had.
We arranged a £47,250 Second Charge Mortgage. The monthly cost of this loan was £565.73.
By consolidating all of their debt into one agreement, it dramatically reduced the client’s monthly outgoing.
The second charge mortgage completed in just three weeks from enquiry and the ERC is just one month’s interest after one months’ notice.
Does this sound like something one of your clients might need?
September 13, 2016
This information is intended for professional intermediary use only and must not be distributed to potential customers.
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