Speedy Secured Loan for Home Improvements

A broker reached out to us for help with sourcing a second charge loan for a client. The client was seeking the loan to pay off an existing second charge and to complete home improvements.

With the clients existing second charge reaching the end of its term, finding a speedy solution was crucial to avoid penalties being incurred.

Our in-house expert on second charges set to work on finding a solution to meet the tight timescales. Terms were issued within a day of receiving the initial enquiry from the broker. The initial lender changed their lending criteria at the last minute. With no alternative offer available, this was a challenge we were more than ready to solve. We resubmitted all relevant documentation to another lender on our panel, and were able to secure not 1, not 2, but 3 offers for the client to choose from. With time being of the essence, we conducted a desktop valuation to speed up the process, and quickly obtained consent from the client’s first-charge mortgage lender. We completed within the deadline and secured a second charge loan offering the full amount required.