How a couple in Leeds remortgaged despite multiple defaults and cut their monthly payments dramatically.
James and Karen, a couple in Leeds in their late 40s, had watched their mortgage payment jump by £680 a month when their fixed rate expired in 2024 and they were rolled onto their lender's Standard Variable Rate. They had four defaults on their credit file from 2021-2022 — three from credit cards and one from a personal loan — all now satisfied. Their existing lender refused to offer them a new fixed rate because of the defaults. Every high street lender they approached said no. They were trapped paying £1,890 a month when they should have been paying around £1,210.
Four defaults within the last four years is a significant barrier to mainstream remortgaging. Most high street lenders require a clean credit file for the last three years minimum. The couple's combined income of £67,000 was more than sufficient for the mortgage — the only issue was the credit history. The additional challenge was loan-to-value: their property had increased in value, giving them 34% equity — a genuine asset that specialist lenders would recognise.
Darryl identified that all four defaults were now satisfied and the most recent was over 24 months old — putting the couple in a much stronger position than they realised. With 34% equity in their property, the loan-to-value ratio was excellent. He approached Kensington Mortgages, a specialist lender who considers applications with satisfied defaults and values loan-to-value ratio highly. The application was straightforward once the right lender was identified.
Remortgage completed in 7 weeks. New rate: 4.89% fixed for 3 years. Monthly payment dropped from £1,890 to £1,185 — saving £705 a month. Over the 3-year fixed term that's £25,380 in savings.
"We were paying nearly £700 a month more than we should have been and had given up thinking anything could be done. Darryl sorted it in less than 2 months. We genuinely can't thank him enough."
— James & Karen, LeedsDarryl reviews every enquiry personally and responds within 2 hours. Free assessment — no credit search, no obligation.
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This case study is based on a real client scenario and has been anonymised to protect client privacy. Names, locations and some details have been changed. Outcomes shown are not guaranteed — mortgage approval depends on individual circumstances, lender criteria and affordability assessment. Your home may be repossessed if you do not keep up repayments on your mortgage. Darryl Dhoffer is an appointed representative of Access Financial Services Ltd, authorised and regulated by the Financial Conduct Authority — FCA No. 301173. Registered in England No. 04427489.