Supercar dealer buys dream home after we give green light.
A supercar dealer and his wife feared hopes of owning their dream home had hit the skids after their mortgage company put the brakes on their purchase.
But we put the couple back in the driving seat to buy the five bedroom detached property with a £295,500 home loan.
The couple were delighted when they found their “forever home” in which to raise their two young children. They had come into some inheritance which, along with savings, would pay the deposit.
And they believed they had the remaining finance sorted after their initial mortgage lender agreed to overlook a minor blip in the customer’s credit history and provided a Decision in Principle.
However, the pair were left distraught when the mortgage company changed direction and refused to finance the purchase, leaving them just two weeks to find an alternative lender and potentially scuppering the house sale.
The case was brought by a mortgage broker to us. We provided a Decision in Principle within 48 hours and the funding within weeks, allowing the family to move into their new home.
The customers plan to sell a second home they own to free up about £150,000 for extending and developing the new house as a great investment for their future.
Robert Oliver, head of field sales, said: “This type of case demonstrates how we consider each application on a case-by-case basis and take a common sense approach delivering the best possible outcome for the broker and their client.
“In this particular case, we were up against the clock so we pulled out all the stops to help the customer achieve their dream in the shortest possible time.”
Although we endeavour to lend within the shortest possible timescales, this is not always achievable in 100% of cases.