At Your Mortgage Shop, we recently had the opportunity to assist a customer who faced a significant down valuation on a property they were eager to purchase.
The initial lender, a specialist due to the customer’s previous CCJ for a parking ticket, downvalued the property by a striking £55,000.
Seeking a second opinion, the customer found themselves in a tricky situation since the lender did not allow appeals, and their broker suggested that obtaining a mortgage from another lender would be challenging.
We took a thorough look at the customer’s circumstances and decided to submit the application to a new lender. This lender utilised a different surveying company to reassess the property’s value, providing the much-needed second opinion.
Importantly, instead of continuing with specialist lenders due to the past credit issue, our broker adeptly managed to submit the case to a high street lender. This strategic move resulted in not only a more favourable valuation but also significant savings of over £100 in monthly payments for the customer.
This case reiterates the importance of having a broker with a deep understanding of lender criteria and the determination to secure the best possible deal.
At Your Mortgage Shop, we pride ourselves on going the extra mile for our clients, ensuring they receive the best financial solutions tailored to their unique situations.
If you’re facing similar challenges or need expert mortgage advice, don’t hesitate to reach out to us.
Your next home could be just a call away!
