Raising Capital In The Current Market

We were working with a client to potentially remortgage their property in order to repay their mortgage, debt consolidate some unsecured debts and raise capital for property improvements.

Previously self-employed, our client had seen a downturn in income as a result of the pandemic which had impacted their credit score. As a result, the most viable remortgage option to achieve the above was with a non-High Street lender. To ensure the client got the best rate and deal though, our mortgage team researched alternative options to ensure that the client could still achieve their goal without having to proceed with a higher overall rate if they didn’t need to.

Eventually, we advised them to go back to their existing lender directly and secure a fixed-rate for their current mortgage at a better rate than they could obtain elsewhere at this time and referred them to a secured loan provider who could assist them with their extra borrowing needs which they were successful with obtaining.

Overall, their monthly outgoings with these two solutions will be less than if we had proceeded with a remortgage in the current climate. Our plan is then to review their situation again in 1-2 years’ time with the intention of consolidating their mortgage and the secured loan once the lending options have hopefully improved for them.

Resolve Financial Solutions explore all of the options available to you in order to find the perfect solution to suit your needs. Get in touch today to discuss your requirements.

*Your home may be repossessed if you do not keep up repayment on your mortgage or other debts secured on it..