Poll
£110,000 second charge mortgage settles client’s tax liabilities
Clever Lending has helped a customer to settle looming tax liabilities from HMRC by arranging a £110,000 second charge mortgage.
The client – who was self-employed and required the loan as a sole applicant – was referred by a broker to Clever after the intermediary was unable to find a lender to provide a second charge loan due to the client’s slightly unusual circumstances.
The customer’s husband was living abroad and had never appeared on the UK electoral role, so Clever could determine that he didn’t have an interest in the property.
The client also wanted to apply as a sole applicant for the loan despite being married, something which lenders don’t normally provide for in their criteria.
Clever turned to Step One Finance who looked at the case on this basis and agreed to the loan with the term of the second charge being 15 years on a three-bed semi-detached property valued at £870,000.
Sam Kirtikar, managing director at Clever Lending (pictured above), said this was a very complicated case which highlighted a number of the benefits of using a master broker for specialist cases.
“Not only did we offer expert advice, even though the broker was qualified to do so, we also sourced a lender from our extensive, specialist panel.
“Our expertise also stretched to looking closely at the customer’s circumstances and understanding that despite being married the loan was to be in sole name.
“This is an unusual situation, but we found a way, much to the delight of the customer.”
Clever also moved quickly as the deadline approached to get all the required documents together, including a valuation report, consent from the first charge lender and full accountant’s references along with other supporting documents.
“On being given the full facts of the case, we were able to make a sensible decision in the knowledge that the application – despite being outside our normal guidelines – was a great solution for the customer,” said Martin Porter, head of lending at Step One.
“By working closely with Clever, we were able to process a fairly complex application to completion in a relatively short period of time.
“The experience shows the benefits of using a master broker such as Clever, working together with a sensible and flexible lender such as Step One to offer second charge solutions to what are perceived to be problem cases.”
The broker who introduced the case to Clever also praised the work of the master broker, who handled the case promptly and professionally to ensure the client’s deadline for the funds was easily met.
“Our client needed to raise funds urgently to pay her tax bill.
“We had recently raised the maximum possible mortgage on her new residence, so there was no option to borrow more.
“We therefore had to consider second charge borrowing.
“As we don’t arrange second charge loans, we turned to Clever Lending for help and assistance.
“This was one of the best decisions I have ever made.
“They took over the whole case and liaised directly with the client, but [kept] me in the loop at all times.”
I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.