A life-changing Mini-Mortgage
UTB recently completed a £26,700 Mini-Mortgage which enabled the applicant to reduce his monthly outgoings by £800 and subsequently make a big improvement to his quality of life.
Our customer had accumulated a significant amount of unsecured debt but despite the £1400 per month repayments, the balances were not reducing as quickly as he would have liked. A recent family bereavement required him to take out a further loan to settle an unexpected expense and that only added to his financial predicament. With the repayments severely restricting his disposable income our applicant was struggling to make ends meet, let alone enjoy life.
After speaking with a Credit Intermediary, the applicant could see that by consolidating his outstanding debt into one affordable loan he could reduce his outgoings to around £600 per month. Being keen to stabilise his future outgoings, the customer chose to take advantage of our 5 year fixed rate product.
Following a fully advised sale, UTB was able to issue a Binding Offer within five days of receipt of the application and with an automated valuation negating the need for an in-person inspection, the case proceeded to a swift completion.