Case study; Our client, who is a high net worth individual, approached us looking for a £3,000,000 large mortgage loan based on their income, which was largely made up of bonuses. They had mortgage offers from Private Banks but wanted to see if a High Street lender could base lending on their non-standard income and assets.
This was really more suited to Private Banks as their lending managers are used to HNW clients and the way they earn. Our challenge was to present our clients’ situation to specialist large loan underwriters within High Street lenders in a way that showcased their income and drew comfort from their assets.
Using our knowledge of large loan lending, our experience and our relationships with various specialist underwriters, we were able to achieve an offer from a High Street bank for our clients. Although they had previous only been able to secure rates over 2% and fees over 1%, we obtained them a £3,000,000 mortgage at a rate of 1.18% and product fee of just £999.
As a broker with years of experience both in conventional lending and more so specialist lending, I can expertly converse with lenders on both sides of the fence, e.g. High Street and Private Banks, which puts me in a very envious broking position of being able to translate specialist cases in a way that can make them appealing to the High Street underwriting model, as highlighted above.
If we can assist with your large mortgage loan or specialist lending enquiry, then please contact us today.
Director of Specialist Lending