The Ask
We received an application from our broker on behalf of a sole borrower looking to raise £60,000 to refinance her existing mortgage (£38k) and raise an additional £22,000 to fund her upcoming wedding.
The borrower had inherited the property in September 2024 and taken out her mortgage just four months earlier, using it to fund equipment for a new photography business she ran alongside her full-time job. The broker needed a lender comfortable with a short mortgage history and a further capital raise so soon after borrowing. The case was referred pre-submission.
The Challenge
With only four months of mortgage payments behind her, the borrower had limited evidence of secured borrowing conduct. The request for additional funds meant her overall level of secured debt would increase, and her recently launched photography business added a further consideration: we needed to be confident that the demands of the new venture weren’t affecting her primary employment or her ability to maintain a stable income.
The Fix
We placed the case on our Core 1 product, which accepts customers with between 3 – 6 months’ mortgage experience. A payment profile confirmed all four mortgage payments had been made on time, with wider credit commitments also well maintained.
As our loan repaid the existing mortgage, the new monthly payment was only a modest increase on her current commitment, and affordability was strong. On the photography business, her shifts as a full-time bus driver left plenty of time to run it without affecting her employed income, supported by payslip evidence.
We delivered a £60,000 remortgage over a 20-year term, in just four working days.
The Benefit
Our Core 1 product helped the borrower achieve everything she set out to do: her existing mortgage was repaid, and her wedding funded. Meanwhile, her photography business could keep growing alongside her full-time role.
And because the case was referred to underwriting before submission, we were able to complete her remortgage in just four working days.