Mr & Mrs. Collins who were looking to re-mortgage their property to capital raise £90,000 to repay some unsecured debt. They were currently with Nationwide and like lots of our clients will automatically return to their mortgage lender. Nationwide declined stating the new mortgage was unaffordable.
What We Did
Nationwide were charging them 3.99% SVR rate and I obtained them 3.24% fixed for 5 years.
I managed to save them over £2,878 per month by repaying all £90,000 unsecured debt and changing their mortgage, which equates to £172,680 over the next 5 years.