Our client, Mr G, needed to urgently raise a mortgage on a property he had recently built. He had an existing mortgage on his present home but the lender declined moving this to the new property as Mr G had built it himself and also because he required an interest only repayment profile (as per the existing mortgage). The change in the existing lender’s lending criteria had left Mr GF in the position of not having sufficient funding to allow his move to the new property.
FOCUS was able to negotiate with a mainstream lender the exact same requirements that suited Mr G and which enabled him to complete the new property, move in, and repay the mortgage on the old home. In fact, the deal obtained by FOCUS also significantly undercut the existing arrangements which meant that Mr G was able to also enjoy the benefits of improved cashflow in the process.