£400,000 Second Charge for School fees for three children

Drawn in stages as fees became due.

For several years, the clients’ children’s school fees had been generously covered by the grandparents. The client decided to arrange funding independently – with the aim of surprising the grandparents at Christmas.

A £400,000 second charge loan was arranged with staged drawdowns each school term, so interest was only paid on funds as needed, improving flexibility and cost efficiency.

Total annual fees: £184,500
£20,500 per child, per term (3 children, 3 terms)