An initiative to support people who have just ended their IVAs and DMPs is proving very successful with over 200 people being offered a more financially stable future.
Clever Mortgages, which is part of Financial Makeover, has helped hundreds of previous PayPlan clients find more suitable mortgages and protection products.
Financial Makeover has been helping people with their financial products for a number of years, especially if they have bad credit. As part of the initiative, people are given a free Money Healthcheck which looks at their finances and helps them find ways to save money.
Putting clients in a better position
Clever Mortgages has been advising customers who have finished their PayPlan debt management plans on mortgages and remortgages with better interest rates than their previous provider.
One customer wanted to remortgage to get a better interest rate and raise additional funds for home improvements she’d been unable to afford whilst being in an IVA. Clever Mortgages managed to find a deal with a lower interest rate and reduced the mortgage term which has saved the customer £65,000 in mortgage interest.
Michelle Neville, Clever Mortgages Sales Director, said: “Financial Makeover’s initiative was launched last Spring and is already helping set up many people with a secure financial future. This initiative between Clever Mortgages and PayPlan is a great example of how the group can work together and help people out of debt and provide finance which they may not have been able to secure with other providers.”