Case 1 location: Newcastle upon Tyne
Property type: Terraced House
Loan purpose: £30,000 To raise sufficient to buy new equipment.
Case details: Self cert needed due to new start business (less than 2 yrs trading). Client did not want to remortgage as the money was for his business and needed to keep the finances separate from his mortgage. In addition he could claim tax relief on the interest payments whereas this would be difficult when it is tied in with the mortgage. Equity was within margins and case proceeded to completion.

Case 2 location: Southport
Property type: Detached
Loan purpose: £60,000 Client had overspent on credit and needed to raise £60,000, one month arrears on mortgage and 2 credit defaults.
Case details:Property valued at £395,000 and a mortgage of £230,000. Because of the arrears and defaults remortgaging was not possible because it would have taken the interest rate on the existing £230k to a much higher level. Instead a loan was arranged, cleared the credit and client will be contacted in a year or so to review if a remortgage at good rates could be arranged.

Case 3 location: London, suburbs
Property type: Terraced house
Loan purpose: £40,000 property repairs
Case details:The property had been neglected for some time and needed essential repairs such as roof, damp course etc. Problem here was that the client was employed as a caretaker and his wife was a nurse. Together they did not earn enough to qualify for a remortgage, income had dropped since the mortgage was arranged (change of jobs for client) and rates had increased. The more generous income parameters of a secured loan allowed the client to arrange the loan for the repairs. The intention then was to consider selling the propertyat some time in the future to smaller house outside London. The value of the house was £700,000.
 

Case 4 location: Nottingham
Property type: Semi Detached house
Loan purpose: £34,000 Consolidation of credit, holiday, car purchase
Case details:Clients were becoming stretched financially and needed to replace the existing family car. Problem was they had almost 2 years left on a tie in on a mortgage with a £9,000 penalty if they settled earlier. The solution here was to arrange the loan now and when the tie in expired remortgage. Result delighted client, happy introducer (he will re-visit when tie in expires)
 

Points to note:
• Interest on loans used for business can be offset against income tax
• Low ERC means client does not have a high settlement penalty when settling early
• When arranging a loan the  introducer always has the opportunity to revisit his client at a later date usually a year or so to consider if remortgaging is a valid option
• PPI can be arranged by you giving the customer protection and income for you
• Best rate always for your client