Our clients were passed on from an introducer specialising in asset / invoice finance. They had a Nationwide first charge on a fixed rate of 1.09%, and did not want to change this as the rate would go up, and it was due to be paid off in 8 years. They needed £40k to complete an extension that would allow them to stay in their family home, which was beginning to get crowded due to the family extending. John was a builder and wanted the freedom to be able to make overpayments as and when he had the funds to do so from completing building projects. 

The loan was able to be amortised over a 15 year term but could be paid off as quickly as possible as the loan had no ERC’s. The longer term also helped, as John and Sylvia had a relatively low provable income due to the nature of Johns work and him having a low profit the previous year. Within 3 months of application, they had recieved the funds.

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