Case study – How 3mc placed a brokers client with adverse credit on a 90% LTV
9th Aug 2022
Shaun at Mortgage 1st part of the Stonebridge – Mortgage & Insurance Network, approached us with a specialist enquiry after approaching various lenders directly. The client had missed payments on a loan agreement 7 months prior and wished to remortgage to buy out the remainder of their shared ownership property.
Scenario
The client wished to purchase the remainder of their shared ownership as part of their remortgage, due to the financial profile, they were having difficulty finding a lender willing to offer a deal at 90% LTV.
3mc solution
Our specialist mortgage desk at 3mc were able to find a lender who did not credit score, accepted the financial profile and would consider 90% LTV.
Result
The case was offered for the full amount at 90% LTV on a 5-year fixed with Vida Homeloans, allowing the client to have 100% ownership, no longer pay additional rent and putting the client in a better financial position.
To quote Shaun Mortgage 1st “Thanks to the great work from the 3mc team it’s been sorted. It was so simple to do an online enquiry and have the team at 3mc assess all of their panel lenders to find a solution”.
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