Large loan debt consolidation with revolving credit missed payments

The borrowers

Rhian and Dai are 54 & 52 and married. He is an Associate Director of a software company, since 2018, earning £110k and she is a Head-Teacher, earning £95k. They want a remortgage of £750k on Property valued £965k, standard constructions, in London. However, they found that they don’t meet the criteria of the mainstream lenders they spoke to.

They want to consolidate over £200k debt.
High income to debt ratio with high LTV
Few current missed payments on unsecured debts, which needed to be brought up to date
Part repayment part Interest only, and also using equity in the property as vehicle to repay
Lending to the age of 75

How we can help

At Foundation, we allow capital raising for many purposes including debt consolidation. We are also able to consider interest-only loans on interest-only affordability basis, which helps to optimise the loan amount. The missed payments on revolving credit falls into our F2 criteria, and we are also able to lend up to age 75 for non-manual work.

Find your RAM Criteria Guide