
Joint applicants attempting to purchase their first home, a three-bedroom semi-detached property in Sussex.
The applicants were struggling to find a lender who could meet their needs. After being declined by three mainstream lenders, the borrowers began to lose hope.
The applications had been submitted incorrectly by a broker who appeared to rush the application process and not package the deals in a suitable manner with the mainstream lenders which was causing the applications to be declined.
Initially, the applicants instructed a new broker that was referred to them. West One received a well-packed case with all the information from their new broker. West One spoke with the broker who clearly explained the case history and the troubles the borrowers had previously with their application.
On reviewing the case, and supporting documents for the application West One was able to offer the mortgage after just 16 days!!
West One added great value to this case, West One managed to have a sensible and professional approach to lending to get the mortgage offer issued in 16 days. The underwriter was clear in what was required and communicated clearly with a common sense approach to help the applicants secure their first home.
The borrower, broker and lender relationship is often key when dealing with understanding a case, and provide funding. A brokers understanding of the case and ensuring any complexities are explained and all information is sent to the lender so that the case can be underwritten in a timely manner with no need for any back-and-forth.
The challenges the borrowers initially faced from their original brokers, were communicated and managed by their new broker and West One team to ensure an offer was instructed in a little of two weeks.