Key Details

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Residential further advance

New loan amount £140,000 (Total £740,000)

Loan to value 45%

Period house in Wanstead

Challenge

After talking with their existing mortgage lender about borrowing more (known as a further advance), for a loft conversion and other home improvements, our clients were surprised to learn borrowing more would be unaffordable. They contacted us to explore remortgage options with a new lender.

Solution

Having arranged the clients’ initial mortgage and knowing their circumstances, our consultant first checked that a further advance could not be achieved with their current lender. He was pleased to find the loan would be affordable as the lender had not considered all available income.

By arranging a further advance rather than a remortgage, the clients were able to continue benefiting from their market-leading fixed rate and avoid a costly early repayment charge.

Talk to us today

Speak with our consultants today for a better idea of what’s possible.

‍t. 020 8156 3166

e. luke@haydenblair.co.uk

WhatsApp chat here‍

Book a call with Luke here