LoansBrain Case Studies
Fluent for Advisers Case Studies Case study one
Case study two
Objective:
Objective:
Mr and Mrs G from Kingston upon Hull were looking for a debt consolidation loan for £54,000.
Mr and Mrs M from Warwick needed to extend their property due to their growing family. The credit report showed a good credit score with some existing unsecured credit (cards and a loan).
• Employment status - Employed • Property valuation - £95,000 • Mortgage balance - £8,407 Credit search showed - a good score with lots of unsecured debt.
Outcome: Fluent for Advisers arranged a secured loan over 15 years, saving the client £650pcm with £2,000 cash out for some much needed home improvements. • Annual Rate - 6.912% • LTV - 69.9%
Benefits to the Clients The Clients were able to pay off their expensive high street borrowings and reduce their monthly out goings whilst protecting their existing low rate mortgage and avoiding their expensive redemption penalty.
Benefits to the Adviser: Fluent for Adviser who introduced the Clients gave them the best advice solution to their borrowing requirements which considered another option to a remortgage. For doing this, the Adviser earned £2,000. LoansBrain - Case Studies
• Employment status - Employed with stable incomes • Property valuation - £700,000 • Mortgage balance - £302,000 • Mortgage type - repayment mortgage, BRT with HSBC, 0.1% above Bank base rate • Loan sourced - Annual rate 5.5% and LTV 52.5%
Outcome: Fluent for Advisers were able to arrange a low cost second charge for £63,000 over 24 years. By also clearing the Clients’ existing credit, they obtained the funds for their much-needed extension and actually saved £185 pcm on their outgoings.
Benefit to Clients: The Clients managed to protect their excellent low rate mortgage, obtained the necessary funds for their property extension and did so with a reduced monthly cost on their outgoings. Page 1 of 3
Benefit to the Adviser:
Benefit to the Clients:
The Clients were given the best possible advice by offering a whole-of-market solution from an expert packager, obtained a product with limited ERC, had the opportunity to review their protection needs. So the Adviser gained further credence with his Clients and is in a great position to re-visit to arrange a re-mortgage when interest rates do eventually increase. In addition, the Adviser also received a commission payment of £2,550.
They were able to raise the finance they so badly needed without re-mortgaging and distributing their preferential rate. They cleared their expensive credit cards and reduced their monthly outgoings significantly and managed to obtain additional funds for home improvements.
Case study three Objective: Mr and Mrs P from Melton Mowbray needed a £41,000 loan to clear some unsecured credit and also to raise money for home improvements. The credit report showed a good credit score with all current credit paid to-date. • Employment status - Employed with stable incomes earning £20,000 and £10,000 respectively • Property valuation - £150,000 • Mortgage balance - £25,000 • Mortgage type - Repayment mortgage, BRT with Halifax paying £158 per month. Consent not required and mortgage shown on credit search so no Lender information was required. • Loan sourced - Annual rate 5.74% fixed rate for 5 years and LTV 45.7% with Optimum credit.
Outcome: Fluent for Advisers were able to arrange a low cost second charge for £45,000 over 15 years. By clearing the clients’ existing credit, we reduced their current outgoings by £694.05 per month and in addition raise funds for home improvements. Page 2 of 3
Benefit to the Adviser: The Adviser gave the best possible advice by offering a whole-of-market solution from an expert packager, obtained a product with no extended ERC, had the opportunity to review their protection needs and so gained further credence with his Clients. In addition, he also received a commission payment of £2,050.
Case study four Objective: A mortgage broker approached Fluent for Advisers to arrange a £20,000 secured loan for his Clients who were struggling with the monthly repayments on their expensive high strees credit cards. His Clients are on a low rate interest-only mortgage with Halifax and have no desire to change to repayment.
Outcome: With this in mind, Fluent for Advisers had the loan underwritten with Shawbrook on their Platinum 6.9% product. The £20,000 raised enough funds to clear all the outstanding credit cards and leave money left over for some home improvements at no extra cost whilst still reducing what they were paying by over £300 per month.
Benefit to Clients: The Cleints were able to get the additional funds they needed to consolidate their existing expensive borrowings, reduce LoansBrain - Case Studies
LoansBrain Case Studies their monthly outgoings and protect their interest-only mortgage.
Benefit to the Advisor: The broker gave his Clients the best advice solution to their borrowing requirements which considered another option for a remortgage. This referral earned the broker ÂŁ1,100 in commission.
Contact Fluent for Advisers If you would like to contact Fluent for Advisers, either call them on 01204 477 600 or email: brokerteam@fluentmoney.co.uk Broker team contact hours: Monday - Thursday 9.00am to 5.30pm Friday 9.00am to 5.00pm Adviser operating hours: Monday - Thursday 9.00am to 8.00pm Friday 9.00am to 5.00pm Saturday 9.30am to 2.30pm Or please contact the Mortgage Brain Customer Support helpdesk on 0208 665 3200 or email: loansbrain@mortgage-brain. co.uk. Customer Service Team contact hours: Monday - Friday 8.30am to 5.30pm, except Wednesday 10.00am to 5.30pm
LoansBrain - Case Studies
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