Case Studies

Helping a Flat Owner Escape a High Variable Rate—Despite Cladding Issues

The Situation

Our client, a flat owner, was struggling with her mortgage repayments. After her fixed rate expired, she was moved onto a variable rate of 9.43%, causing her monthly payments to skyrocket to £2,797.

To keep up, she was working three jobs, all while trying—unsuccessfully—to remortgage through other brokers.

The flat had combustible cladding and no EWS1 certificate, which meant most lenders wouldn’t even consider the application.

The Challenge

The lack of an EWS1 form (introduced after the Grenfell Tower tragedy) made the property unlendable in the eyes of many banks.

Despite several attempts to remortgage, every broker she spoke to ran into a dead end. Meanwhile, rising repayments were putting serious pressure on her day-to-day finances.

Our Solution

We’ve helped many clients with flats affected by cladding and remediation issues. What we did was:

• Secured a buy-to-let mortgage offer, allowing her to let out the flat and move into a new home
• Worked closely with a high street lender who was willing to assess the case
• Used the developer’s and freeholder’s written commitment to carry out and fund the cladding work as key evidence

The outcome

The offer is secured and the difference is already life-changing.

We’ve reduced the mortgage rate from 9.43% down to 4.12%, cutting monthly payments from £2,797 to just £1,395.

For our client, this remortgage has opened the door to a fresh start and relieved a huge financial burden.

Contact Us