Key points
Several smaller borrowing commitments
Existing prestige vehicle available as security
Single facility to address eligible balances
Background
Client F had a number of smaller existing borrowing commitments and wanted to consider bringing eligible balances together. They owned a prestige vehicle that could be assessed as security for the required funding.
Solution
Following valuation of the vehicle and completion of the required checks, a £10,000 Asset-Backed Debt Consolidation facility was arranged against the eligible asset. Where agreed, eligible existing debts were settled directly.
Outcome
Client F used an existing prestige vehicle to access funding for the consolidation of eligible borrowing, bringing multiple commitments together through a single facility.