Situation:
Our customer dreamed of buying their perfect holiday home in sunnier climes. They had found the right place, they now needed the right mortgage solution, and quickly.
Challenge:
Our policy is not to lend against overseas security, so we needed a pragmatic approach to help the customer secure their place in the sun.
Solution:
Our long standing relationship with the customer made it possible for us to delve into their financial position to explore alternative options. Knowing the client and their situation, meant we were comfortable in proposing a solution that released equity from their unencumbered property, to fund the purchase. This way they could use their significant savings to offset the mortgage balance. This strategy effectively allowed the customer to purchase the property as a cash buyer. They were able to negotiate a highly competitive price for their dream coastal retreat, whilst reducing the overall amount of interest, saving them thousands across the mortgage term.