Mr and Mrs M had found their perfect retirement home in a road where very few properties ever came up for sale. Whilst they had secured a buyer on their own home almost immediately, their buyer had a chain below them, meaning that their transaction would take 3-4 months to go through. As the sellers of their new house were unwilling to wait Mr and Mrs M were in danger of losing it.
Solution
Due to increased competition in the bridging market, JLM arranged a bridging loan without monthly repayments and on a far lower rate than the clients expected. As there were no early repayment penalties, the loan and interest was repaid in full once their house sale completed.
JLM Mortgage Services is a trading style of JLM Mortgage Brokers Ltd. which is an Appointed Representative of JLM Mortgage Network Ltd, which is authorised and regulated by the Financial Conduct Authority, Registration Numbers 953547 and 300629. Further details may be found by visiting www.fca.org.uk. Registered office: 21a Churchyard, Hitchin, Hertfordshire SG5 1HP. Registered company number 13397178. Registered in England & Wales.
The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK. Should you have cause to complain, and you are not satisfied with our response to your complaint you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows: The Financial Ombudsman Service Exchange Tower, London, E14 9SR Tel: 0800 023 4567 or 0300 123 9 123 www.financial-ombudsman.org.uk
*A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £695. In some circumstances no fee will be payable. Calls to and from our landlines and mobiles may be recorded to meet regulatory requirements.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY LOANS SECURED AGAINST IT.
