Case study - Home improvements and large debt consolidation

This month we were able to help a family raise funds for home improvements and large debt consolidation, despite being turned down by both high street and online lenders previously.

The applicants were looking to borrow a total of £72,000. They needed £50,000 to consolidate their debts and £22,000 for home improvements, to update their bathroom and replace their kitchen.

Previous mortgage lenders didn’t want to lend due to the applicants previous adverse credit, involving a default and historic CCJ from 2019.

Despite the challenges, we were able to secure the lending that they needed to consolidate multiple lines of credit and make the home improvements they dreamed of.

We worked with the applicants during the busy summer period, whilst they were on holiday for two weeks. We made sure their mortgage deed was ready for them to sign and send back to us, for when they arrived home. The funds were released 3 days after their return home.

By consolidating their debts and having one loan in one place, they have been able to reduce the amount of repayments they had each month. This means they are now able to understand their debt better, making it easier for them to budget every month.

Tara Evans, head of direct sales said:

“This scenario showcases our common sense lending approach. Taking a more flexible view, has allowed a couple to make their dream home whilst now being able to plan and budget for their future, despite the adverse credit challenges.

“We understand that life happens. The last few years has brought a lot of uncertainty to our lives, and now a great deal of people are facing financial difficulties. We’re so happy that we are able to help these clients that are underserved by other lenders.