Self-employed, home improvements with quick turn around

After being let down by numerous high street mortgage lenders, we we’re able to help a sole applicant raise money for home improvements.

The applicant wanted to borrow a total of £50,000 to extend their home and add an extra room for their growing family. However, they faced challenges due to their self-employed income.

The client was a full-time window cleaner and unfortunately faced financial difficulties during the Covid-19 pandemic. They also had historic adverse credit, where the client had overspent on several different credit cards during the festive period.

Prior to their difficulties during Covid-19, the applicant also had an existing individual voluntary arrangement (IVA) that was settled 3 years ago, which we were able to ignore.

By taking out a second charge mortgage with us, the applicant was also able to protect their preferential fixed mortgage rate, they have with their first charge mortgage lender.

The applicant received the funds just 16 days from when we obtained their documentation. They were delighted with the result and were able to complete their home improvements quicker than anticipated.

Tara Evans, head of direct sales said:

“Many of us have experienced change in the last 2 years, making it difficult for people to borrow more, now their circumstances have changed.

At Central Trust, we feel that the self-employed are not being given a fair hearing. Sadly, many mainstream lenders use automated decision making systems which means their application is not assessed properly. However, we like to take a more reasoned and holistic approach to an application, by looking at a self-employed person’s circumstances and income history.

When it comes to adverse credit we understand that life happens. People shouldn’t be penalised on their credit score, which is why we consider all credit histories. If you’re looking for a lender that will listen, apply online or call us directly using the number at the top of this page”