Recent Defaults and Quick Completions

When a borrower enquired for a mortgage to purchase a three-bedroom home with recent defaults on their credit file, they found their application denied by several lenders. During this time, the vendor of the property had become impatient and was pushing for a quick completion.

The case was presented to one of Connect Mortgages’ specialist lenders. The lender reviewed the case and determined that the Defaults were both linked to telecommunications and less than £300. This meant that they could ignore the defaults on their credit file.

The next challenge was to deliver the quick completion the vendor was demanding. The lender quickly instructed the valuation and pushed the application through with close co-operation between all of their departments. The case progressed from Application to Offer within five working days and then took only another four working days to proceed to completion.

The result was a very happy broker, who said:

“We really can’t thank you all enough for everything you have done on this case. I genuinely believe no other lender would have worked so hard or helped us as much as you all have.”

If you are in a similar situation and would like to speak to one of our specialist advisers, fill out an enquiry form or call us on 01708 676 111


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