Mrs J and her partner wanted to buy their council property under the Right to Buy scheme.
The adviser they went to last year realised that the second applicant had a couple of CCJs (County Court Judgements) so approached a specialist lender.
Their application was declined due to perceived rent arrears.
Jayne explained our approach: “Due to the low amount they wanted to borrow in relation to the property value, and their income, and the fact the rent was up-to-date along with all CCJs being satisfied, I researched options with mainstream lenders.
“I submitted a decision in principle with a lender, which although declined, I appealed as it was only just outside their advertised lending criteria. The appeal was successful!
“Getting their mortgage with a mainstream lender has meant an interest rate of 4.30% fixed for 2 years. When they were originally looking it was 7.14% fixed for 2 years!
Let’s just say the client are very happy with the outcome.”
Download our mortgage guide
The world of mortgages can feel overwhelming, full of confusing jargon and complicated processes. Our free, comprehensive guide is designed to demystify the journey, giving you a clear, easy-to-understand roadmap. It’s packed with essential information on everything from understanding your credit score to the documents you’ll need, helping you feel prepared and confident before you even speak to an advisor.
Start your mortgage journey on the right foot with all the knowledge you need in one place.
Looking for mortgage advice? Chat to one of our independent mortgage advisors for an initial free chat by calling 01603 633344 or email us on [email protected].