The Client Background

Positive Lending recently arranged a second charge mortgage at 67% LTV (loan to value) to support almost £50,000 of unsecured debt consolidation in just six working days.

The debt had largely accrued home improvements. With the works now completed and ongoing credit commitments increasing, the goal was to lower monthly outgoings and improve disposably income.

A missed mortgage payment in the last 6 months limited options for a further advance or traditional remortgage.

The “Positive” Solution

Our second charge panel provided a solution through Interbridge Mortgages, who were able to approve the full loan amount requested despite the applicant’s current credit profile and affordability being at 5.9x income multiples.

In addition, an Automated Valuation Model (AVM) was used, removing the need for a full property valuation. This reduced costs for the applicant and streamlined the overall process, delivering a faster, more efficient solution.

The “Positive” Outcome

From initial enquiry to completion in just six working days, we provided a fast and efficient solution for both our introducing broker and the client.

The new loan enabled full consolidation of debts into a single, manageable monthly payment, reducing outgoings by £1,221 per month.

The client’s first charge mortgage remained unaffected, preserving the option for a future refinance once their overall credit profile improves.