Darren Street, a regulated advisor of our network, has recently placed a case with Halifax for a client who is an employee of a different major high street bank who were not willing to lend to her.

The client, an underwriter at her bank, was not able to access funds from her place of work, as she had a number of defaults 5 years ago because of a one-off life event but had since conducted her affairs in an impeccable manner.

Upon submission of the FMA Darren highlighted the previous issues with Halifax clearly and concisely, so that they were aware of the situation in full. After a number of additional conversations, letters and further supporting documents, Halifax were happy to proceed with it and the case was accepted.

Darren had previously highlighted to the customer that they may have to consider using a subprime lender of which she had accepted but he assured her that he would do all I can to avoid this. A subprime lender is typically more accepting of deals with increased complexities, such as those with adverse credit, but that comes with increased interest rates and so higher monthly payments. Fortunately, Darren was able to avoid going down this avenue, and for this the client was delighted in her own words.

The ultimate irony of this case is that the rate was lower than anything their client’s bank was offering at the time regardless of criteria.