They were next time movers and looking for a 95% mortgage. As far as they were aware their credit was fine. The mortgage in principle referred due to a default registered in 2013 and was satisfied. When queried the default was caused by an error with a PPI claim within Barclays. Barclays would not remove the default and this could scupper their chances of a 95% mortgage and the property chain to fall completely.
What We Did
The Lender agreed to the mortgage as affordability was good and you could clearly see this was a blip. I obtained them the 95% at 3.55% fixed for 2 years with a £300 cashback to assist with my small fee of £395.
The Client was over the moon with the decision as it would have meant either paying 4.98% for 2 years or a 15% deposit.