It's true, sometimes people don't come straight to us. Fortunately, they are usually glad when they do.
Situation:
Miss L & Mr C had been advised by a mortgage broker based at the estate agents through which they were purchasing. They were advised that a mortgage of 6.5% was the most suitable product available to them, claiming that the whole of the mortgage market had been searched.
Outcome:
On reviewing Miss L & Mr C's circumstances Thorpe Lincoln identified a mortgage rate of 5.29% from a major lender, saving the clients £138 per month in interest.
Situation:
Miss
S had been advised by a mortgage broker at the estate
agents through which she was purchasing a property. The
property was leasehold with a relatively short lease
period remaining. The advisor recommended a mortgage with
a lender who has strict criteria relating to length of
lease remaining. This criteria was clearly known to the
advisor who proceeded to try to hide the lease term from
the solicitor and lender.
The consequence, once this lease term came to light, was that the lender insisted on a shorter mortgage term which increased the monthly payment beyond Miss S's budget.
Outcome:
On
reviewing Miss S's circumstances, Thorpe Lincoln were able
to identify a mortgage lender to whom the remaining lease
term was acceptable without shortening the mortgage term.
The outcome of which was that Miss S had a mortgage
payment that remained within her budget.
Situation:
Miss
P had spoken to a mortgage broker and came away more
confused than when she started. The advisor was unable to
explain the difference between different mortgage products
in plain English. So Miss P felt uncomfortable in deciding
which mortgage she should take.
Thorpe
Lincoln explained in detail, and in plain English, the
differences between mortgage products, so that Miss P
fully understood what was being recommended, and why.
Allowing Miss P to be sure she knew the benefits of her
mortgage choice.
Having
committed to a quick exchange of contracts to secure the
property, time was of the essence.
On application, the lender declined Miss P despite already having approved the loan in principle. Rather than taking this at face value, and reverting to another lender at a much higher interest rate, Thorpe Lincoln investigated the reason. On investigation, it was identified that the decision was an error caused by a minor difference in address details on the lender's credit scoring system.
Outcome:
The
decision was reversed, and the mortgage approved. Allowing
the purchase to go through well within the tight
timescale.
Protect yourself & your family
We'd rather not have it, but when the unexpected strikes, we're usually glad we did.
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Terms & Conditions : Please read our full terms and conditions and privacy statement before you proceed. The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK. Thorpe Lincoln Mortgage Consultants Limited. Registered office 33 Mary Seacole Road, The Millfields, Plymouth, Devon PL1 3JY. Company registration number 5419596. Thorpe Lincoln Mortgage Consultants Limited is an Appointed Representative of Mortgage Next Network Limited, which is authorised and regulated by the Financial Services Authority for mortgage and insurance mediation activities only. Mortgage Next Network Limited is entered on the FSA register (http://fsa.gov.uk) under reference 300866.
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