Client looking for lower rates, lower monthly payments and debt consolidation

Holbrook Property Finance was approached by a client aged 49 years who was paying her current lender an interest rate of 4.74%. She wanted to look at more competitive rates and consolidate the debt. This was something two lenders had previously declined, based on age criteria and affordability (restricted by age). 

She also wanted to keep her 67 year old husband on the mortgage and reduce monthly total commitments from £2,826 per month.

After a careful review of her request and their financial situation, I was able to:

a) Arrange a remortgage at a much lower rate.
b) Consolidate the debt.
c) Keep her husband on the mortgage.
d) Reduce the monthly commitments to £1,301, thereby ensuring that the mortgage was still affordable for the term of the mortgage.


Lisa Ray – Senior Financial Consultant