In the dynamic world of finance, challenges often arise unexpectedly, demanding swift and effective solutions. This case study revolves around our high net-worth clients who approached Hayes Finance in August 2023 with a pressing issue.
The clients existing lender had set a tight deadline for the payoff of their mortgage loan facility which was contingent upon the sale of an overseas property.
However, when the property sale faced delays, our goal was to help find a remortgage solution and put it in place should it be required.
The Challenge
Our client’s initial challenge was clear-cut – their existing lender required the settlement of their mortgage facility within a couple of months, predicated on the sale of their overseas property.
Unfortunately, the property sale encountered unforeseen delays, putting the client’s plans in jeopardy. Our primary goal was to facilitate the payoff of their existing mortgage on their main residence and extend the timeline to sell the overseas property.
Our Solution
Drawing on our extensive network and expertise, we devised a solution to provide our client with the time they needed.
The clients had complicated income streams so we collaborated with a building society that recognised the client as a high-net-worth individual with assets exceeding £3 million. This allowed us to secure a regulated bridging loan with an extended 36-month term, a testament to the value of our client’s assets and financial profile.
Key Highlights
However, due to complications with the overseas sale the original lending solution was not later an option and we had to pivot quickly as the deadline for redeeming the current loan facility loomed.
We approached Oakbridge Financial Services, who not only grasped the situation’s urgency but were on board with the overall deal structure. They produced an offer for £2.5 million in just five days, showcasing their commitment to expediting the process.
Effective Communication: Leveraging our connections at the client’s bank, we ensured that all stakeholders were informed of the positive progress in the case. This allowed us to reassure the lender that full redemption was imminent, albeit not by month-end but shortly thereafter.
The Outcome
Through unwavering dedication and a relentless pursuit of solutions, we achieved a remarkable outcome for our valued client. In under four weeks, we successfully completed the redemption of the existing mortgage, providing our client with the financial stability they sought. Our ability to adapt to changing circumstances and collaborate with industry experts ensured a swift and effective resolution.
At Hayes Finance, our commitment to our clients’ financial well-being knows no bounds. If you find yourself facing complex financial challenges, whether as a high-net-worth individual or otherwise, we stand ready to provide the expertise and guidance needed to navigate the financial maze. Contact us today, and let us help you secure your financial freedom.
📞 Contact us now if you require swift and effective financial solutions tailored to your unique circumstances. Your financial freedom is our top priority.
