Lauren and Luke were looking to raise £60,000 to convert their bungalow into a larger chalet style property. They purchased the property nearly 8 years ago and Lauren has recently given up work to have a baby.

Luke’s income is made up of salary and commission. His current mortgage lender was unable to use his commission, as this is not a guaranteed income, making it difficult to raise additional funds.

First 4 Seconds were able to select a lender that would use all his income to arrange a secured loan for the full amount whilst keeping the main mortgager. The loan completed within a short period of time, allowing the work to be completed.

Loan amount: £60,000

Loan term: 18

Monthly payment: £443.87

Annual rate: 4.5%

1st charge mortgage balance: £75,000

Property value: £190,000

Loan to value: 71%