Although we deal with many complicated cases, we are also often able to add real value to our clients simply by removing the hassle of the product sourcing process. I recently helped secure a remortgage for a client whose work kept him extremely busy; he was a journalist who travelled all over the world. He was an existing Enness customer; we had previously secured him a mortgage, and his current rate was due to expire and therefore revert to the standard variable rate (SVR).
SVRs are determined by the lender, and although the interest rate is currently sat at a historic low, SVRs do not have to track the Base Rate. Although being on an SVR means you may avoid early repayment charges, they are generally expensive and unlikely to represent the best deal for you. My client, therefore, felt he would like to remortgage to secure a better deal.
Unfortunately, my client had recently been travelling extensively and had simply not had time to research a product to remortgage on to. Our dedicated client services team contacted him to let him know that his current product was due to end, and he then asked if we would be able to find him a quick solution.
I was able to use my extensive knowledge to identify the best product for him in a time-efficient manner. This would have been a time-consuming process if he had attempted it himself; as a broker, I am constantly exposed to available products, so I can locate the best deals quickly.
I also have a fantastic relationship with this lender, and because my client was an existing customer, I was able to secure an exclusive discounted rate. Fortunately—in light of my client’s time restraints—the lender was able to proceed with minimal documentation, which sped up the process.
My client’s new product was a 2-year fixed-rate at 1.89%. I was able to get this put in place quickly, enabling my client to return to his travels without further worry. He was very pleased with this result and I look forward to working with him again in the future.