Below is a recently completed case from our Secured Loan department

These clients approached us to repay 21 credit cards and unsecured loans that had been used to fund an extension and refurbishment of their property. They also required additional money to finish the home improvements. Both clients work within the Civil Service but were subject to a significant redemption penalty on their fixed-rate mortgage.

Their monthly outgoings were

Balances Monthly
Credit Cards £18,500 £492
Unsecured £81,357 £1,227
Total £100,357 £1,719

We arranged a second charge over their home with West One Loans for £115,000, selecting a product with no Early Repayment Charges and a monthly repayment of £617. The client’s intention is to remortgage in 2023 when their fixed rate finishes.

The clients’ monthly outgoings have reduced by £1,102 – a saving of 64.1%, and our Introducer received his proc fee on the day of completion.

Two delighted clients and one happy Introducer!

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