The interesting case of the IT consultant and the cancelled case

Summary

  • Amy was buying a new-build property and wanted to consolidate some debts

  • Her previous credit problems added to the complexity of this case

  • She was let down by the high street and another specialist lender

  • Our personal approach ensured Amy didn't have to miss out on her new home

Background

IT consultant, Amy was a next-time buyer who was purchasing a new-build property near Sheffield. She was selling her existing home and wanted to raise finance to buy the new property and consolidate some debts.

She had some minor adverse credit and didn’t quite fit the high street, so the broker originally picked a deal with another specialist lender.

The issues

It took some time for the valuation to be instructed and the day after it was undertaken, the specialist lender pulled its products and cancelled cases that hadn’t been offered. This left Amy in a very difficult position as she was under time pressure to complete the purchase of the new build property quickly and not disrupt the chain on the property that she was selling.

Tony Henriques from Total Mortgage Solution, says:

“I spoke to the team at Pepper Money, who were able to help. I submitted an application the next day, the case was offered in a week and it completed the following week. Amy was overjoyed that the deal was saved, and I was very impressed with the team at Pepper Money."

The solution

Pepper Money was able to help the customer with the mortgage she needed to buy her new home and consolidate her debts, on a product in the Pepper 24 range. With time of the essence to prevent her purchase falling through and the chain collapsing, the mortgage proceeded to Offer in just one week and completed the following week.

 

This case study is based on criteria in effect at the time this case was submitted and reviewed by Pepper Money. We reserve the right to change or amend our criteria at any time. All our stories are based on real cases but the names have been changed.

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