Our experience underwriters are sure to find an option for your customer, as you will read below.
A broker sent across a case to us where the customer was initially looking for a secured loan for home improvements, but after initial inspection, it was suggested that a remortgage could potentially be a better option. However, the lenders we had available would not have been a better solution for the customers due to their credit history, as the rates would have been higher than their current mortgage; therefore, we reverted back to looking at secured loan options.
The Customer Relations Manager (CRM) who had been assigned the case to look at secured options reviewed the details and saw a problem with the income, which may not leave the customer in an ideal financial situation when taking out the loan. So, the CRM asked for more information on their income to see if there were any lenders that would possibly take on the case. We received further details on their income, but due to stress tests and self-employment the customer did not fit criteria. The CRM did refer the case over to several lenders, but as mentioned, the stress tests were just too tight to advise the customer to take out the secured loan.
However, Norton Broker Services pride themselves on ensuring we explore all possible routes to get customers the funds they require. So, our CRM suggested the customers explore the option of an unsecured loan. It would not be the full amount they were originally looking for, but it did mean that the customers would be able to complete the improvements they most wanted. Once the customer had provided all the details required, the case completed within two days.
Norton Broker Services always examine all avenues to make certain that our brokers and clients are happy with the outcome. We pride ourselves on the diverse range of product options that we provide: mortgages, secured loans, unsecured loans and more; we will always do our best to get your customer the funds they require. If your customer is looking to raise finance against their business, home or wants to explore unsecured finance, then get in touch with the team today to see how we can help.