HELPING CLIENTS OUT OF A TRICKY SITUATION

We recently had clients looking to move home, and they required a suitable residential mortgage to do so. It wasn’t an easy case to place, due to the client’s age, the fact that they had varying types of income to consider and that there was a deadline for them to complete on the house they were moving to. Despite all of this, we managed to obtain a suitable mortgage offer in good time for the new purchase, and all appeared to be going through fairly smoothly. However, just a week or two before they were due to move, their moving “chain” broke down and their buyers had no option but to pull out.

 Our clients’ existing property has lots of equity, so we were able to speak with our commercial mortgage department at I-Commercial Finance, and they were soon able to arrange a Bridging Loan to enable the clients to still move home and then, once their current house does eventually sell (they have at least a year to do so, and have since had another offer on the property), they will then repay the Bridging Finance in full and end up with a small residential mortgage on the new home. The clients were so pleased that they could make their move, particularly because the move was necessary for personal reasons, and this gave them peace of mind at a tricky time for them. They moved into their new home last week.

 This article and their story is just to serve as a reminder that Adept does have the expert backing of our commercial mortgage department at I-Commercial Finance, so that if we can’t help on a residential mortgage basis, then we can always call on help from our colleague Andy Fairclough for any commercial mortgage solutions. So if you need help with either a residential or commercial mortgage, then we have all bases covered right here.

Tel: 0330 057 1866

Email: Mark@adeptprivatefinance.co.uk

Adept Private Finance is a trading style of I-Property Finance Limited, which is authorised and regulated by the Financial Conduct Authority. Our Financial Register Number is 734423.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE