Below are a couple of Success stories, these are real examples of applications we have received over the years. You can see some detailed examples of our Mortgage Success stories here.
The last one is a personal favourite as it is an example of where someone had been declined on the high street and with an adverse lender and we managed to get it through with the original high street lender. It is a great example of how the difference between success and failure is not necessarily who you apply to, but how the application is packaged.
|Rate||2.89% (2 year fixed)|
|We received a call from a gentleman looking to buy out his Wife following a breakdown in the relationship. The gentleman had been made bankrupt in the past, although it was some time back.
After discussing the case with our account manager at a small Building Society we managed to get the lender to agree to the Mortgage with a detailed explanation as to how the bankruptcy came about. We also managed to get it through at a rate LOWER than a lot of the high street Mortgage lenders were offering!
|Rate||2.84% (2 year fixed)|
|A couple approached us to arrange a Mortgage for them. They were looking to sell their current property and move to a larger family home. One of the applicants had previously been in an IVA (A form of Insolvency) which had been discharged for 3 years and had a perfect credit history ever since.
After talking the case through with our account manager we were able to secure the couple a Mortgage with a high street lender and at very competitive rates.
|Rate||6.09% (2 year fixed)|
|A lady called us following another broker advising them they could not help them to get a Mortgage. The clients were looking to get a 95% Mortgage with 3 defaults on their credit reports. Because of the high LTV and the defaults we were very limited in options.
We knew of a lender not on the high street who were prepared to accept defaults and CCJs in certain circumstances. The case progressed smoothly with the lender and the underwriters were happy to disregard the defaults, they were also not concerned with needing an explanation for them. The clients moved into their new home approximately 2-3 months after making the application.
After the deal finishes the rate will drop automatically to the lenders SVR rate even if we do not look for cheaper alternatives elsewhere.
|Rate||1.56% (2 year fixed)|
|We received an email from a potential customer who was using another broker at the time. The previous broker had applied to a high street lender and had been declined due to adverse. The broker was at the time trying an adverse lender with a large jump in the rate available. The second application was then declined also!
The customer then came back to us after our initial chats. We completed a factfind with the customer and to us, it was quite obvious that the first lender applied to was the best option, otherwise it would be adverse mortgage lenders with rates of around 4%.
We spoke to the client who was reluctant to allow us to apply again to the high street lender but we managed to convince him. Because we specialise in bad credit Mortgages, we have an idea of which high street lenders are most likely to accept these cases and also how to package the application in the best possible light to improve the chances of being accepted.
The case was submitted and in less than 2 weeks the full Mortgage offer was issued (this included the valuation being carried out). The customer has now completed and is with a high street lender and over the moon.
If you would like to discuss how we can help you write your own Mortgage Success story (too cheesy?), please get in touch. We are really happy to have a chat and discuss your requirements.
The overall cost comparison is 4.54%. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.