We got a call from Peter and Lucy whose 23-year-old son was buying his first home. Keen to help him, they approached First 4 seconds to raise £10,000 to pay the son’s deposit.
As Peter and Lucy have a relatively small mortgage on their residential property, the process was very quick and simple. Their son is now happy in his new home.
Loan amount: £10.000
Loan term: 15 years / 180 months
Monthly payment: £81.26
Annual rate: 4.35%
1st charge mortgage balance: £365,000
Property value: £880,000
Loan to value: 42%