• Colmore Finance

Case Study: Speed and Flexibility for a Residential Mortgage

Updated: Dec 8, 2021

We were approached by a First-Time Buyer who had recently started his job and was looking to raise a substantial loan amount whilst placing 5% deposit.

The problem:

The client has approached many brokers before and was unable to source a lender that was flexible enough to accept his income proof as he had only recently started his job and the rates suggested to him were too high to even consider. The client also stressed that as he had already found a property and made an offer which was accepted, he required speed as enough time had already been spent with previous brokers and wanted to avoid a situation where the sellers would back out from the transaction.

The solution:

The client was able to quickly get back to us with the initial fact-find (takes around 30-60 minutes to complete) and all necessary documents. Our specialist adviser, Michael, approached an intermediary-only lender (only available to brokers) who he knew was flexible enough to accept the income earned from his new job and worked hard to process the application from application to offer in just 6 days!

Not only that. The mortgage rate sourced for this deal was similar with most high street lenders ensuring that the most competitive terms were agreed.

" Colmore Finance was brilliant from start to finish. The speed in turnaround was a life saver and I wished that I had approached them earlier! "

If you are having difficulty finding a lender and are currently stuck scratching your heads about how to progress, do not hesitate to contact us today!

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