Every now and again something goes so right, that it is worthy of mention.
A client contacted us from an internet search, as he had been lying awake at night worrying about how he was going to pay his bills.
The family of four were plodding along quite nicely until a delightful (but unexpected) set of twins arrived, adding too much pressure to the family purse strings.
All of a sudden an extension to the family home was underway, along with an upgrade to the car and all the other expenses new additions bring. A year on and although his wife was returning to work part time, financially they were struggling to cope.
The Financial Conduct Authority (FCA) have strict rules about consolidating debts into client’s mortgages on the basis that if you default on your car loan, the finance company will come and reposes your car, but default on your mortgage and you may of course lose your home! We also need to be aware that “unsecured” lending is often short term and adding these bills to your mortgage can often mean you are paying for them forever!
But every now and again, it feels like the right thing to do. The car loan at £649 per month was on a 13% interest rate and the mortgage “further advance” to pay for the extension was at 11%. We consolidated these 2 loans and a rather large credit card bill into a new mortgage with NatWest at 2.35% for 2 years and hey presto, the family’s outgoings reduced by a staggering £989 per month.
Sensing we were about to solve his problem, the client provided every piece of possible paperwork a mortgage lender could ask for within 24 hours and despite huge backloads of cases at some lenders following changes to mortgage regulation, NatWest issued a full mortgage offer within 2 weeks.
The solicitor NatWest instructed to carry out the legal work got in touch on the same day the offer arrived and we are working towards completion next week. From start to finish the whole process took about 4 weeks.
I am happy to report that the only (2) thing(s) keeping this client awake at night are the twins!
Click here more information about Debt Consolidation Mortgages or contact a mortgage advisor on 01628 507477.
Recent posts
Losing your job or finding yourself ‘between jobs’ is, unsurprisingly, a stressful place to be. Keeping a cool head and taking action is important.
Best UK Mortgage Rates this Week
5 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Flats 40% cheaper to buy than houses
10 days ago
This price gap between the cost of houses and flats is the biggest it has ever been. Houses are now costing 1.7 times more than a flat, which is 0.4 times higher than 10 years ago
Take a look at our list of houses vs. flats per area.
Are mortgage rates set to increase?
19 days ago
We have seen several lenders increase their mortgage rates over the last couple of weeks. This suggests mortgage rates are likely to rise.
Although nothing is set in stone, lender repricing, rising swap rates, and continued economic uncertainty suggest borrowers should prepare for higher mortgage costs.
AI-altered images put off over half of buyers
24 Aug 2026
According to data from House Buyer Bureau, where over 900 UK homebuyers were surveyed, 54% of people said that they immediately ruled out digitally enhanced property listings.
April Mortgages offer 7x Income Mortgage
13 Aug 2026
April Mortgages - only accessed via a mortgage broker - offers first-time buyers, renters, and home-movers the option to borrow up to 7 times their income on its longer-term mortgages.
Andy Burnham’s Potential Changes
22 Jul 2026
Despite the Prime Minister not yet announcing any policies to abolish or change Stamp Duty, speculation persists that this could become government policy.
Burnham, who officially became Prime Minister on Monday, 20th July, has expressed strong support for a significant reform of property taxes over recent years. He said that he will deliver “the most significant change moment in our politics for 40 years.”
Young borrowers concerned about credit score
7 Jul 2026
Almost half of young adults are worried about their credit history stopping them from renting or buying a property, according to data from Loqbox
More information
Trusted by
