A high net worth individual approached their Independent Financial Adviser (Claudia Marley of PQR Financial Planning Limited) in need of capital to make home improvements on a high-value property. Claudia advised that because the client had recently upgraded their mortgage to a favourable rate, remortgaging again would have lost the rate, triggered penalties and was not the most economically viable option for raising the money. Claudia consulted The Lending Wizard, whose team of specialist staff was able to leverage a broad range of lender relationships to come up with the most suitable solution for the case. After consulting a number of lenders and exploring various options, The Lending Wizard and Claudia decided to work in conjunction with Shawbrook Bank, who supplied the best deal for the customer.
Darrell Walker, head of intermediary at The Lending Wizard, comments:
“We are very excited to have been instrumental in setting up this loan, which is one of the biggest in the UK secured loans industry. Our collaboration with Shawbrook highlights the importance of relationships in helping brokers to find the best possible solution for their clients. Secured and unsecured loans can often be overlooked by IFAs, who tend to be more familiar with traditional mortgage products. However, this loan provides an example of where a second charge product proved to be the most suitable option for a complex case. There is a vast range of products available on the market, and a combination of advanced sourcing technology and strong human relationships with lenders can help brokers get the best deal for their customers.”
Claudia Marley, Mortgage Consultant at PQR Financial Planning, adds:
“This deal highlights the role that loan sourcing services can play in providing solutions to complex cases. Working closely with the team at The Lending Wizard I was able to reassure my client that between us we were able to find a suitable alternative lending solution outside of the usual mortgage options, enabling me to recommend a really good outcome for the client’s individual situation.”
Maeve Ward, Sales Director, Secured Lending at Shawbrook Bank comments:
“This is one of the largest secured loans we have completed. Given the size of the loan and the complexity involved, we needed a lot of detailed information in order to accurately assess the affordability and risk. The Lending Wizard was able to coordinate with all parties involved and provide us with all the relevant details from the client. This enabled us to really understand the customer’s needs and offer the most suitable product option. We are delighted to have assisted the client, The Lending Wizard and PQR Financial Planning with this large transaction."
