Craig contacted us to raise £250,000 for a divorce settlement. Craig’s property was valued at £1.2m with an existing mortgage of £362,000. We managed to secure a £250,000 loan at a rate of 3.69% over a 20-year period.
The challenge was that Craig had his bonuses paid annually into a separate limited company. We were able to verify this via his Accountant and a letter from his employer.
The case was completed in 4 weeks from enquiry to pay out.
Loan amount: £250,000
Loan term: 20 years
Monthly payment: £1520
Annual rate: 3.69%
1st charge mortgage balance: £362,000
Property value: £1.2m
Loan to value: 51%