£1.1m refinance approved as an exception, offered in just one day

Scenario

A broker approached us looking to refinance their customers’ existing property to raise funds for the purchase of a new home to live in. The case, based in London, involved a large loan amount and an Automated Valuation Model (AVM) that did not meet certain criteria requirements, as a result, this required a tailored approach.

The challenge

This was a time-sensitive case where speed was critical, making the use of an AVM instead of a physical valuation essential. Unfortunately, the AVM result did not meet the required threshold for an automatic pass.

The solution

Thanks to the strong overall case and low loan-to-value, we were able to seek support from our real estate team, who conducted additional research and approved an exception, allowing us to provide an instant decision rather than waiting for a full valuation. The case was fully supported and moved from application to offer within just one day.

The case demonstrates our ability to take a flexible, common-sense view on large loan applications that may not typically match our standard criteria.

Got a case like this?

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