A very quick remortgage! (November 2009)
The clients required a fast remortgage in order to raise some capital for the deposit to purchase another property. They were in competition with someone else and so had to move quickly.
Their existing lender would lend the additional funds but at a rate of approx 9% (Northern Rock). They wanted a product that had free legal fees, free valuation fees and preferably no tie ins as they anticipated repaying the borrowing very quickly.
The best product available was with the Coventry with a tracker rate 3.65% (for the term) free legal fees and valuation with no tie ins.
Case submitted 30th of November
Offered 8th of December
Completed 17th December
