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Case Information

 

Type of finance: Home Mover
Loan amount: £1.15m
Interest rate: 1.64%
LTV: 85%
Term: 30 Years

Summary and Solution

Our clients were looking to purchase a new residential property. One of the clients had recently changed jobs and went from being employed on £200,000 per annum to becoming a partner with a new company.

His new role was now to be classified as self-employed and in normal lending requirements he would need to have completed a minimum of one year and filed self-assessments, to get lending. On a broader basis he would need two years self-assessments to be able to get lending with main stream institutions at a competitive rate.

His partner was employed and works in the City. Stable job and very good income.

Understanding and packaging our cases is key to our success rate in obtaining market leading mortgage terms for our clients. In this instance, we were able to get the loan agreed by exception with a main stream lender, based on his monthly draw from the company which was £25,000.00. The lender was presented with an overall case and by speaking with underwriters the loan was approved as they understood the client’s overall position. Great result!

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