Essex remortgage deal unlocks equity with next-day offer

Scenario

A broker submitted a sole application for a standard regulated remortgage. The goal was to release equity to fund the purchase of another property. The exit strategy for the loan was via the sale of the subject security.

Outcome

The application was received on 10 July and an offer was issued the very next day. The borrower was able to move quickly on their onward purchase, using the released equity to secure a new property without needing to wait for the sale of their existing home.

The next-day offer gave them confidence to proceed and negotiate from a stronger position, helping them avoid missing out in a competitive market. With a clear exit plan in place, they’re now set to complete the sale of their current property and repay the loan seamlessly.

Why it worked

• Clear exit route
• AVM acceptable for the location
• Clean application

Got a case like this?

Speak to your specialist finance manager or call 0800 116 4385 today.