The case study below illustrates how our unique approach to assessing the credit profile of prospective borrowers cannot only enable them to borrow more, but also save them thousands of pounds in interest.
Application Details:
- Purchase Price: £250,000
- Loan Required: £187,500 (75%)
- 5 year fixed rate (25 yr term)
- 2x unsatisfied CCJs
- Registered 7 months ago: £3,736
- Registered 33 months ago: £1,204
- 33 month old CCJ ignored, as it will be over 3 years old at completion**
- Applicant saves 1.31% due to the change of credit tier
- Monthly repayments £145.27 cheaper
- Over £6,000 saved in interest over the 5 yr fixed rate period
Not only does our criteria on completion mean that an applicant might be able to move into a different credit tier, it can save them thousands of pounds; giving them a better opportunity to afford their dream home.
