CAPITAL RAISING EASES THE SITUATION
A long time existing client of ours who is a Nurse in the NHS and as their existing fixed rate mortgage was coming to an end with their existing lender they wished to take the opportunity to raise some funds to pay off some outstanding debts and have some windows replaced.
What with their overtime reduced and helping out financially with their elderly mother over the last 12 months they had taken out a few personal loans and added to their credit card balances and with the increase of interest rates meaning their mortgage payments would also increase it all got very serious as their outgoings started to get very close to the money coming in.
By working very closely with the client MANCHESTER MORTGAGES were able to arrange a re-mortgage to new lender to repay their existing mortgage and capital raise additional funds to repay all the outstanding personal loan and credit card balances and still save the client £600 per month which meant it took the financial pressure off them and they could concentrate on looking after their mother and also have the windows replaced.
REVIEWING EXISTING FIXED RATE MORTGAGE DUE TO EXPIRE
AND HOUSE ON THE MARKET AND NOT YET SOLD
NHS Doctor’s existing fixed rate mortgage was coming to an end and they were in the process of looking to move and had their house on the market but had not sold it and were left with the possibility of having to go onto their mortgage lenders standard variable rate which would add £100’s to the mortgage payment each month.
MANCHESTER MORTGAGES were able to arrange a rate linked to the Bank of England Base Rate with their existing lender which did not have any Early Repayment Charges ( penalties ) which meant when the house sold the client had the choice of staying with their existing lender for their new mortgage or looking for a new lender.
Contact us here at MANCHESTER MORTGAGES on 0161 706 0242 for all your mortgage needs or complete and send the contact form
