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Dive into a world of success stories with our Case Studies! At Reeds Financial, we're dedicated to transforming dreams into reality. Discover inspiring tales of clients overcoming challenges, securing their first homes, and achieving financial milestones.
Our case studies illuminate the personalized strategies and expert guidance that paved the way to homeownership. Whether you're a first-time buyer, investor, or homeowner looking to refinance, our real-life examples provide valuable insights. Explore the journeys, learn from the experiences, and find the inspiration you need to embark on your own path to homeownership. Let these stories guide you, and let us be your trusted partner in turning your homeownership dreams into tangible keys.
Explore our case studies today and take the first step toward your dream home!
Our client was a 28-year-old first-time homebuyer who has dreamt of owning her own home for years. Despite her steady income as a marketing assistant, she had struggled with managing her finances in the past, leading to some missed payments and a low credit score. With her credit score below the average required for conventional mortgages, Sarah was concerned about her ability to secure financing for her first home.
Her credit score was below the standard required by most traditional lenders, making it challenging for her to qualify for a mortgage. While she had been working hard saving for a deposit, her savings were not substantial enough to compensate for her credit score. She was unsure of where to turn for mortgage options given her less-than-perfect credit history.
We conducted a thorough assessment of her financial situation and credit history to understand the extent of the challenges she faced. We provided her with personalised advice on improving her credit score. This included strategies such as paying down outstanding debts, disputing any inaccuracies on her credit report, and establishing a consistent payment history.
Recognising that traditional lenders might not be willing to extend a mortgage to her given her credit score, the broker explored alternative lending options. They identified lenders who specialize in working with borrowers with less-than-perfect credit histories. Once her credit score showed improvement and her financial situation stabilised, the broker helped her obtain pre-approval from a suitable lender. This involved submitting all necessary documentation and providing a clear picture of her income, assets, and liabilities.
With the assistance of Reeds Financial, she was able to secure a mortgage despite her previous credit challenges. She purchased her dream home and is now enjoying the pride of homeownership. By diligently following the credit repair advice provided and working with a knowledgeable professional, she was able to overcome the obstacles that initially seemed insurmountable.
We successfully processed a challenging mortgage application for a self-employed couple looking to buy a new home in just 10 working days. We collaborated with a specialist lender and navigated through complications arising from a change in the clients' company structure during the application.
To enhance the clients' borrowing capacity, we evaluated their affordability based on net profits before tax. This allowed them to qualify for a higher loan amount. Instead of using an average of the last 2 to 3 years, we considered the latest year's trading figures to avoid including any negative impacts from the Covid-19 pandemic. Additionally, we factored in the increase in the client's shareholding value, enabling them to borrow even more for their property.
Our expertise in handling complex cases and our real-life lending approach ensured we could meet the clients' financing needs. We also managed to lower the residential rates between the mortgage offer and completion, working with the broker to secure a reduced rate for the borrowers, saving them thousands of pounds over their fixed-term mortgage deal.
Ultimately, we provided an 80% loan-to-value ratio for the property, helping the clients achieve their goal of homeownership.
Our client is a 32-year-old professional, who decided to venture into property investment as a means of diversifying his portfolio and generating passive income. With little experience in the property market, he was uncertain about the mortgage process and whether he would qualify for financing as a first-time property investor.
The challenges he faced was that had never purchased investment properties before and lacked familiarity with the nuances of property investing. Without a substantial deposit or a high credit score, he was unsure if he could secure a mortgage with favorable terms. Identifying suitable investment properties within his budget and in desirable locations posed a challenge for him.
His adviser conducted a thorough evaluation of his financial profile, including his income, assets, debts, and credit history. They discussed his short- and long-term investment objectives to determine the most suitable financing options. We recognising his lack of experience in property investing, so the advisor provided comprehensive education on the mortgage process, investment property financing, and potential risks and rewards associated with different types of properties.
With the assistance of his mortgage advisor, he successfully secured a mortgage for his first investment property. He purchased a rental property in a high-demand area, leveraging financing that aligned with his financial goals and risk tolerance. His investment has since generated steady rental income and has the potential for long-term appreciation, marking the beginning of a promising property investment journey.