Project Description

This case study is for illustrative purposes only and does not constitute advice.
Your home may be repossessed if you do not keep up repayments on your mortgage.

Getting in touch

The Barn-Staples were coming to the end of their 2-year fixed rate but had not responded to our review letters. We persevered, knowing that they would be moved to the lender’s standard 4.75% rate, a big jump from their current rate of 2.89%. We couldn’t stand by and let that happen. The Barn-staples agreed to meet me for a chat and a cup of coffee.

What was the issue?

During our catch-up, Mr Barn-Staple let me know that he had recently left his employed role to set up his own company. He had heard through the grapevine, that he would need two years of trading accounts to be considered for a mortgage. The couple were convinced that, because they would fail a lender’s criteria for a new mortgage, that they were forced to stick with their existing lender and roll over onto the standard variable rate.

How did I help?

I was able to explain to the Barn-Staples that we could in fact, negotiate a follow-on deal with their current lender, which would not involve Mr Barn-Staples new employment status. Additionally, I managed to secure a new, lower rate than their current deal!

A coffee and a chat really does pay off!