Case Study
Georgia Walton, Second Charge Mortgage Specialist at Brightstar, arranged a £154,000 loan for a client seeking to consolidate multiple debts into a single, manageable payment.
The client had been tied into a low fixed-rate mortgage with high early repayment charges (ERCs), making it challenging to remortgage or access further borrowing. Additionally, a further advance request was declined due to the large amount of existing debt.
Despite these complications, Georgia was able to secure a solution that consolidated the client’s debts while significantly reducing their monthly payments. The loan was arranged with an 85% LTV at a rate of 9.34%, and the funds were completed in an impressively short timeframe — just five working days.
One key challenge in this case was the lender’s requirement for an original signed deed of priority. However, Georgia’s close relationship with the lender allowed for pre-consent funding, meaning the loan completed with a scanned copy of the document, with the original to follow.
The final result? The client saw their monthly payments reduced by a massive £1,652, providing them with much-needed financial relief.
Commission Paid to Broker: £1,750 for a Simple Referral
Georgia Walton, Second Charge Mortgage Specialist
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