3mc Blog

Deal of the Week – Debt Consolidation for 16 Months Self Employed client with a £8,500 Default

Challenge 3mc – Your specialist intermediary mortgage desk


Each week we will provide a worked example for a case from the previous week detailing the information provided by the intermediary for a specialist deal along with the end result.

In this example the 3mc mortgage desk took an enquiry from an intermediary based in Cardiff. The client was looking to remortgage their residential property and raise funds for debt consolidation to 75% Loan to Value. The client had a £8,500 default registered 37 months ago. The client was self employed and had been trading for 16 months with 1 year’s accounts available. The client also needed to maximise their affordability by utilising a 5 year fixed rate.

Following extensive research including using the compare criteria from the 3mc website the deal was placed with Pepper Homeloans The product was a 5 year fixed rate at 2.99% exclusive to 3mc. The product had a £1,495 lender completion fee.