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Changed circumstances: Reduced income

Prospect Mortgage Services provide independent, sound and honest advice for your mortgage and protection needs.

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Due to circumstances, a couple needed to move house — but things had changed since we arranged their original mortgage some years before. Family circumstances had taken a bit of a toll on their financials

  • income had dropped
  • debts had built up

To add pressure, their current mortgage had a good interest rate and a chunky Early Repayment Charge attached. We needed to do something called ‘Porting’. This is where you ‘tele-port’ (Star Trek fans will know) your mortgage to another property. It was far and away the best option for them financially.

This lender was fiddley, and preparation and research proved crucial to avoid a negative outcome. There was only one way to structure the application for the optimum outcome. We took the time to made sure every detail was documented, every explanation clear, and every underwriter fully in the loop.

Result? Mortgage offered. Move completed. Stress levels (mostly) normal.

They’d tell you we were with them every step of the way — and they even laughed at our jokes. Perfect 😊