Scenario Overview:

  • Sporadic limited company accounts
  • Grant based income
  • Rationale regarding future endeavours
  • First time buyer purchase

We were approached by a client who was looking to buy their first property on a 85% loan to value basis.  The client openly stated they have limited knowledge on the buying process and needed guidance on not only how to secure a mortgage for the acquisition of a property, but also require support throughout the full buying process.

During our initial conversation with the client, we established their current working situation, and extracted a full breakdown of how their income was made up, along with the history and consistency of all income streams.

Gaining a firm understanding of all income was essential in allowing us to familiarise and understand each aspect of the income received.  This was then fundamental when it came to our research and dealings with potential lenders, as we had a detailed, but clear, rationale of why the client could afford the new mortgage, all of which was backed up by factual proof of historic and current income.

Once we had a feel of initial lending appetite, we then had the specifics of the case reviewed by an underwriter to gain provisional acceptance.  What was absolutely key at that stage was to present the case in complete trueness, with all facts documented and associated proof laid out in a logical format.

Once pre-approval had been granted a further discussion was held with the client regarding best advice, which fed into the recommendations made.  Once agreed by the client we proceeded with the application, and what would have been a tempestuous application turned out to be incredibly smooth, which was simply down to the quality of the fact-finding and research conducted by the broker, coupled with good communicative relations with the lenders in question.

Upon reflection, we delivered a truly dedicated service and excelled in arranging a mortgage, all of which was on competitive, suitable terms. The client was ecstatic with the outcome and totally appreciative of how we turned a complex and potentially hazardous scenario into a relatively straightforward transaction.

For further information on this case study or how we could assist you, then please feel free to contact us to speak with one of our mortgage experts for an initial consultation.