Imminent eviction
Client A was due for an imminent eviction. He had been ill and missed mortgage payments, and the arrears were now spiralling out of control. Client A had only a small mortgage on the property and lots of equity but could not remortgage due to the recent missed mortgage payments. We were able to obtain a small second-charge bridging loan, secured on the subject’s property, to clear the arrears and avoid repossession. We also guided the client in the methods required to prevent the eviction process, allowing time for the bridging loan to be completed. We are now in the process of providing new finance to clear the original mortgage and second charge bridging loan, thus giving Client A a much-needed new start.