Situation: Term expired, stopped repossession.
Customer came to us after finding they had gone over term on their existing buy to let mortgage, the lender required their funds back and were looking to take possession of the property. The customer thought they had more time to get this sorted but it came to light that they only had 2 weeks to complete.
Property was worth £325,000, they had £195,000 outstanding.
Solution offered by Crystal Specialist Finance:
We found a lender for the customer that could get a surveyor out to the property and complete in that restricted timescale. We also liaised with the existing lender & solicitors to ensure all relevant parties were working together. Our excellent understanding of lender timescales and case packaging requirements allowed the case to complete on time.
The solution offered by us meant that the customer got to retain their property which was a holiday let providing them with additional income.