Our client had sold his residential property a few years back and was renting. He contacted us to discuss options, before he had started looking for his next home. He had wanted to be in a good area with good schools, hence why he had sold his property, however at the time there was nothing he liked in the area he wanted to live in, and decided that rather than settle for any property, he would rent and take his time to find the right property.
We kept in touch with him over a 2-year period – working with him as criteria changed with lenders, when he did find the ideal property, he would be better prepared in terms of lender requirements.
He was a Ltd Company Director of two companies and when we first looked at his accounting it was very messy as income was coming into both companies and drawings were being taken ad hoc – something that we find is very common and which does cause big issues when applying for a mortgage.
We worked with him and his accountant and over the two-year period they were able to tidy everything up, which meant when he found the property, he wanted and we were able to go to a mainstream lender with no issues.
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