A valued customer turned to us in a time of difficulty. Already associated with Moorgate Finance via previous truck finance, the customer was tied to a high-rate mortgage lender and left with crippling monthly repayments.
The Challenge
The customer was paying £2,600 per month on his mortgage, which had become unsustainable for cash flow. Alongside this, he was juggling other credit cards and loan payments, leaving him with little breathing space. Having faced rejection from another lender, and unsure where else to turn, he approached Moorgate Finance for support.
The Solution
After carrying out a thorough fact find, we together agreed that selling one of the customers cars would help to clear down some of his debts. This decision significantly improved his credit profile, making him a stronger candidate for mainstream lending.
Following extensive negotiations and persistence, we were able to secure a mortgage deal with a High Street bank at just under £1,200 per month at a rate of 4.04% – a life-changing reduction from his previous high-rate arrangement. By extending the mortgage term by an additional two years, the deal was tailored to fit within his budget. Remarkably, the offer was issued on his 50th birthday, marking a fresh financial start.
The Highlights
✅ Reduced monthly mortgage payments from £2,600 to £1,200, saving over £1,400 each month
✅ Shifted from a sub-prime lender to a mainstream High Street bank at a competitive 4.04% rate
✅ Structured the deal over a longer term to align with the client’s budget
✅ Client described the result as “life-changing”
✅ The mortgage offer was issued on the client’s milestone 50th birthday
Give us a call on 01908 92 62 62 or head to www.moorgatefinance.com/apply-now to start the conversation about your commercial or residential mortgage.