Secured loans and debt consolidation done right

Secured Loan / Second Charge

A partner introduced this client to us due to being unable to source remortgage options because of the volume of unsecured debt this client had vs their income. Instead a product transfer was completed by the introducer with the view to utilize equity in the property to reduce monthly expenditure and allow for both breathing room for the client and increase chances of better remortgage options at the end of the new fixed period.

Case Study:

Gary was spending around £1,600 per month on unsecured debt, leaving him with very little monthly cash. By consolidating credit cards and a high-interest loan, this secured loan reduced his committed monthly expenditure by over £900, resulting in significant savings both in the short and long term.

Over the past few years, Gary faced health issues that reduced his overall income and increased financial pressure, adding to his stress. With this secured loan, Gary can now alleviate financial pressure, allowing him to focus on his health and recovery. His future intention is to remortgage and absorb this second charge at the end of the fixed period.

This is an excellent execution of a secured loan, resulting in a very happy customer.

Great job, James Singh CeMAP