01206 544333
The Client’s Situation
The client owned a single, self-contained flat used for short-term accommodation, including holiday lets and Airbnb. They had recently left a senior management role in a large technology firm and were beginning to build their property portfolio. The property was held within their limited company, and they wanted to refinance to raise funds for further acquisitions in the short-term let sector.
The Challenge
During a house move, the client failed to receive an invoice that had been sent to their previous address. As a result, the invoice went unpaid, and a County Court Judgement (CCJ) was issued. Once made aware, the client immediately satisfied the CCJ.
Despite their strong financial background and the quality of the asset, the client’s application to a high street bank was rejected solely because of the CCJ. They needed a lender able to assess the wider context and consider the case on its individual merits.
Our Solution
With our deep knowledge of the specialist lending market, we approached a lender known for assessing cases individually and making exceptions for satisfied CCJs.
We presented the client’s circumstances, including:
-
Their strong financial background
-
Their experience and commercial mindset
-
The quality and income potential of the asset
The lender accepted the case by exception and agreed to proceed. They provided a free Automatic Valuation, saving the client valuation costs, and as it was a refinance, they also allowed non-representation at the legal stage, meaning the client did not need to instruct their own solicitor. This reduced both costs and processing time.
The Result
The client secured the funding they needed, despite the CCJ, and avoided unnecessary costs through the free Automatic Valuation and non-representation option. This allowed them to refinance their short-term let property and raise funds for future portfolio expansion.
Client Feedback
“Ollie was a pleasure to deal with and I fully expect to be trading with him and Advocate Finance in the near future.”
How We Can Help You
If you have a satisfied County Court Judgement, even if a high street lender has declined your application, Advocate Finance may still be able to help. We work with lenders who consider cases on an individual basis and can look beyond automated credit decisions when the overall profile is strong.
