Where there’s a will, there’s a way     

There are many paths to successfully financing a property purchase. Recently, credit adviser, Alan Bennett, helped a young couple who had nearly given up hope, realise their dream. If at first, you don’t succeed, ask more questions. That’s the motto of Alan Bennett, Director at The Brokers Hub, who doesn’t let a history of refusals stand in the way of securing the right loan. 

Recently, James and Gemma*, who were keen to buy their first home but had had their loan application rejected twice already, were referred to Alan. “They didn’t think they had a chance of getting the amount they wanted, and I wasn’t sure I could get them approval either, but I started asking questions,” says Alan. “It’s not enough to gather only the information required to submit an application; it’s important that credit advisers know what borrowers’ plans for the future are, whether they plan to renovate or rebuild, for example, and what their background is.” 

 Alan discovered, through his thorough work, that Gemma’s parents were open to the idea of helping their daughter and her partner by acting as guarantor, using the equity in their own home. “This started a whole new way of helping James and Gemma get the loan they required,” Alan says. “And there was another benefit that came out of this: it showed the parents that their own mortgage was not structured ideally for their financial situation.” After discussions with both parties, Alan was able to organise a situation in which both the Champions and Gemma’s parents got the results they wanted. 

Alan recommends that any potential borrowers considering this kind of arrangement speaks to an Approved Credit Adviser. With Alan’s knowledge of the industry and a wide range of lenders and products, James and Gemma’s property dreams were realised, and Gemma’s parents were able to restructure their own mortgage.  

Just as importantly, both parties went into the arrangement with a thorough understanding of the conditions and exit strategies, so there are no surprises in store. 

A Brokers Hub Credit Adviser can help you overcome hurdles to realise your property dreams.