Employed and Self Employed – Residential home mover

This case study illustrates how we helped a young couple secure their residential property using multiple incomes, where their loan was restricted with standard lender criteria

The clients approached us with the intention of buying a new residential property to upsize for their growing family and be situated near better schools for their children. The clients had several sources of income:

  • Gross salary from employment for both applicants
  • Overtime from employment for both applicants
  • Bank work from employment for applicant one
  • Self-employed income for applicant one

The client wanted to use all of his income to maximise their affordability however many lenders would not consider 100% of all income. Due to this, many lenders were restricting the loan amount as they would only take part of the clients’ total income.

Our Ltd company specialist adviser was able to find a lender who would take 100% of the clients’ income which allowed them to arrange the desired loan amount of £414,000.

Time from application to offer – 6 working days with a high street lender.

Understanding different types of income and lender criteria is extremely important as it allows to maximise client affordability by knowing which lenders will accept all the different types of income.

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