£31k Unencumbered debt-con remortgage completed in just 8 days

The Situation 

The client had recently experienced financial difficulties, with an unsatisfied CCJ registered nine months earlier and a new default recorded just 16 days before the application. Multiple unsecured arrears had built up over the past year, creating affordability pressures and damaging their credit profile. They needed to consolidate debts quickly and raise additional funds to make essential home improvements, preventing further reliance on credit cards.

Our Solution

West One reviewed the case and took a practical approach despite the recent adverse credit. By assessing the client’s overall stability and ability to maintain future payments, a debt consolidation remortgage was approved at a rate of 7.94%.

• The £30,935 loan, at just 25% LTV, enabled the client to clear around £10,000 of unsecured debt and release a further £20,000 for home improvements.
• The case benefited from an AVM valuation and Fast Track legal service, allowing swift underwriting.
• The loan moved from underwriting to offer within six calendar days and fully completed in only eight days.

The Benefit

This remortgage reduced the client’s monthly outgoings by over £200, simplifying their finances into a single, manageable repayment. With all unsecured debts settled, the client was able to focus on improving their property without needing to rely on further unsecured borrowing.