The situation
The clients approached us for mortgage advice, looking to reduce their monthly outgoings by consolidating several financial commitments, including an existing secured loan.
Following a full review of their circumstances, it became clear that a remortgage or further advance was not suitable at this time due to:
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Being tied into a fixed-rate mortgage
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Existing credit issues
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Early repayment charges that made a mortgage solution impractical
Rather than stopping there, we explored all available options to find a solution that met the clients’ needs both now and in the future.
The clients’ objectives
The clients wanted to:
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Consolidate an existing secured loan and several unsecured commitments
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Simplify their finances into one manageable monthly payment
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Reduce monthly outgoings and create some breathing space
The solution – Secured loan via our specialist partners
After assessing affordability, credit history, and lender criteria, we introduced the clients to one of our specialist secured loan partners, where a suitable solution was available.
Key details:
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Net loan: £69,700
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Gross loan (fees added): £74,290
(Broker fee and lender fee added to the loan) -
Term: 300 months (25 years)
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Product: 5-year fixed rate
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Monthly payment: £480.92
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Additional outcome: Around £2,000 released to the client once all balances were cleared
Why this mattered
Prior to consolidation, the clients were paying approximately £1,235 per month across multiple commitments, including their existing secured loan.
By consolidating into one secured loan:
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Monthly outgoings reduced to £480.92
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A saving of around £750 per month
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The existing mortgage remained unchanged
This provided immediate financial relief and stability, without disrupting their current mortgage.
A complex case — handled carefully
This was not a straightforward “vanilla” case and required careful packaging due to:
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Existing secured borrowing needing redemption
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Adverse and complex credit history requiring clear explanation (including missed payments and CCJ context)
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Affordability pressures once final settlement figures were confirmed, requiring the loan to be resized
Timeline: From enquiry to completion
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07 Jan: Initial fact-find completed and documents gathered
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09–14 Jan: Application packaged and lender queries addressed (affordability and settlement changes)
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16 Jan: Speak-with completed and binding offer issued
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19 Jan: Deeds received and final completion conditions met
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21 Jan: Completion achieved ✅
Total time: Approximately 2 weeks from application to completion, despite consent, deed, and documentation challenges.
What made the process feel straightforward for the client
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Proactive chasing of third parties to protect completion timescales
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Clear communication around “what’s needed next”
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Practical support with document submission and scanning
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Fast resolution when a deed needed re-issuing due to a witnessing technicality
Looking ahead
While a mortgage solution wasn’t suitable at this stage, this is not the end of the journey.
We will review the clients’ mortgage options once they are out of their fixed rate and in a stronger financial position, with the aim of exploring a remortgage if and when it becomes appropriate.
This case highlights our commitment to:
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Looking at all available options, not just mortgages
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Working alongside trusted specialist partners
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Supporting clients both now and in the future
This case study is for illustrative purposes only and is based on a real client scenario. Individual circumstances will vary, and not all solutions will be suitable for every client. Secured loans are secured against your property and your home may be repossessed if you do not keep up repayments. Fees may apply. Mortgage and secured loan advice is subject to status and lender criteria. Oak Mortgages Ltd is authorised and regulated by the Financial Conduct Authority.
