One was employed on a low wage, while the other received large sums in royalties that were only paid out twice a year. They were in between royalty payments, so their funds were dwindling, and they had HMRC and credit card debt that needed clearing.
Their bank had rejected them for finance because there was not a high enough income showing on their bank statements from the last three months. They were referred to the Commercial Expert team by an insolvency practitioner.
We were able to help them get a secured loan against their home using one of our secured loan specialists.
The secured loan completed within three weeks, all debts were cleared, and when the next royalty payment was received, the secured loan was repaid without incurring any early repayment charges.
As you can imagine, the clients were happy with the result, and we were happy to help.