CASE STUDY
Imagine facing the loss of a parent and the potential loss of your childhood home all at once. That’s the difficult situation our clients, two siblings, found themselves in after their father’s passing. The inherited mortgage, which had fallen into significant arrears after his death, put the property at risk of repossession.
Their primary goal was clear: keep the family home within the family. However, the mortgage was in default by £100,000, and the added stress of family bereavement made it difficult for them to manage their finances, resulting in missed credit payments.
With a mortgage in default and missed credit card payments, securing lending with traditional lenders can prove challenging. However, understanding the emotional weight attached to the property, we were determined to find a solution for our clients.
After leveraging our expertise and conducting extensive research and negotiation, we sourced a lender who was willing to overlook the recent missed payments. This resulted in our clients securing a £400,000 mortgage to prevent repossession and retain ownership of their £700,000 family home.
This case wasn’t just about securing a mortgage; it was about preserving a family legacy. Homes hold more than bricks and mortar—they hold memories, stories, and a sense of belonging. Being able to support our clients in retaining their legacy was an incredibly rewarding experience.
Facing a similar situation?
If you’re facing a challenging mortgage situation, don’t hesitate to reach out. We’re committed to helping you achieve your homeownership goals. Contact our team here for more support.
Please note: a mortgage is secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Please also note: The Financial Conduct Authority does not regulate most forms of buy to let mortgage.
