Cardiff Money completes £933,000 second charge loan with Optimum Credit


Dan Yeo

The power of social media and education has secured Cardiff Money their largest ever 2nd charge completion as well as one of the largest second charge loans ever underwritten by Optimum Credit.

Daniel Yeo, MD and founder of Cardiff Money personally oversaw the application from start to finish. The funding provided a high net worth client an exit for a complex bridge scenario . The second charge replaced the current lending and significantly reduced the clients cost of funds. Optimum were able to offer a second charge for 4.3% fixed for 2 years

The client was introduced to Cardiff Money by Huw Oddy of Bridging Deals Ltd . He commented “Dan contacted me on LinkedIn a couple of months ago and we agreed to meet at my office. His approach was refreshing, much more so as my last foray in to the world of second charges was over 8 years ago and which was an awful experience. I felt comfortable enough to pass Dan one of my biggest clients and even though we threw him in at the deep end neither my client nor myself have been disappointed. Dan and his team at Cardiff Money are now our preferred partners for all second charge enquiries”

Daniel Yeo, pictured, said:

“A simple message to Huw on Linkedin pointing out our balanced stance on packaging fees really resonated with him particularly after his previous experience in the industry. This mortgage only happened because we do things differently and in doing so helped the client avoid paying  ERCs and losing an outstanding 1st charge rate while exiting a bridge and saving them a significant amount of money. It just goes to show the flexibility, robustness and importance of the 2nd charge product. If done correctly and priced correctly the consumer and wider broking community will begin to engage more with our sector. We are delighted with the outcome for the client”

“We heavily researched the market as well as all other viable options . Optimum came up with the best all round proposition and demonstrated outstanding flexibility when the property down valued unexpectedly. They have been a pleasure to work with as always and this completion only enhances our already strong relationship. You can’t buy experience so I used all of mine to get this done for the client.

Craig Collins, National Sales Manager at Optimum said:

“Firstly, we were delighted to be given the opportunity to work with Dan and the team at Cardiff Money when they submitted the initial enquiry. Whilst these deals require additional scrutiny, it helps when the brokers involved have a clear idea of what is required by the lender and ultimately they ensure they pursue the information relevant to the case. Irrespective of loan size, it simply helps if the case is well packaged. Dan and the team at Cardiff Money have helped ensure the client has received a satisfactory outcome and we are pleased to have played our part.