Potential Bankruptcy

The Story

Mr and Mrs Cooke* require a loan of £102,000 and were struggling to find a lender who could help
them with their needs.

The couple were in the unfortunate circumstance of having a pending bankruptcy, resulting in a restriction on their property. They needed the funds to cover the crucial debt of £35,000, as well as their existing mortgage balance and a second charge on their property. All together this totalled the £102,000. The couple were greatly concerned about their situation and unsure where to turn.

What We Did

At Pure Retirement, we were able to consider the customers’ situation despite their circumstances not being ideal. Our team were thorough and efficient in dealing with the case for Mr and Mrs Cooke, helping to put the couple at ease knowing there would be a potential solution to their financial situation.

Our team acted swiftly on their application and a valuation was instructed as urgent due to the couple being booked in for a court hearing just 11 days’ later. There were a few conditions that needed to be settled due to the customers’ situation, but within a week of the application being processed by our underwriting team an offer was issued just 7 days after application and in time for the court hearing which was a huge relief to Mr and Mrs Cooke.

The Result

Mr and Mrs Cooke were pleased with the outcome and were happy to proceed with Pure Retirement after agreeing the loan amount of £102,000 which would cover all their requirements.

The couple were very grateful to our team as we were able help where no other lender had been able to. This case is a prime example of our team working together to provide the support our customers need despite challenging circumstances.

*Client names have been changed to provide anonymity. We cannot give any assurances that applications outside our lending criteria will be approved.