Homeowner remortgage for couple looking to consolidate and raise funds

Location: Wiltshire

LTV: 64.79%

Loan amount: £421,195

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A couple who had recently received a significant windfall made massive improvements on their newly purchased home and were looking for a comprehensive remortgage which would support them to raise capital and consolidate their debts.

We were well placed to support them with our flexible Residential Mortgage range.

When the borrower profile fits our target market and product offering we may be able to support debt consolidation as part of a remortgage.

After purchasing the home for £350k, they made significant investments, seeing its value rise to over £600k. 

Following the completion of the works they were looking to consolidate all their borrowing into one loan. 

In total, the additional borrowing would support them to:- 

• Recoup home improvement costs
• Clear a secured loan against another property
• Clear unsecured lending.

Ed Appleby, the Business Development Manager who worked with the broker on the case, explained why it suited a LendInvest Mortgages solution. 

“The borrower had multiple ambitions for this remortgage, which may put other lenders off, not factoring in the use of a residential mortgage for some debt consolidation. 

“Our policy here is really understanding of different homeowner needs, especially after a challenging few years for home finances. 

“Unlike many other lenders, we don’t have a set cap on the amount of debt consolidation we can consider when the borrower profile fits. Our flexible approach meant we were able to work with the broker to understand and evidence the various reasons the clients wanted to raise capital.”

You may have clients for whom it may be in their best interests to have the possibility of additional flexibility. They may be looking to consolidate some debt – or capital raise  or even pay a tax bill. Contact your BDM to learn more about how we make mortgages simple.

LendInvest Mortgages and LI Mortgages are registered trading names of LendInvest Loans Limited. LendInvest Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN:737073). 

LendInvest Loans Limited is a company registered in England & Wales (Company No. 09971600) and is a wholly owned subsidiary of LendInvest plc. LendInvest plc is a limited company registered in England No. 08146929. Registered office at: 8 Mortimer Street, London, W1T 3JJ.

Regulated lending is provided via LendInvest Loans Limited. Borrowing through LendInvest Loans Limited involves entering into a regulated mortgage contract secured against property. Your property may be repossessed if you do not repay your mortgage in full.