Mortgage Amount: £315k
I am often contacted by clients with what first appears to be quite complex situations regarding their mortgage requirements, but more often than not we are able to find a path that works for them and allows them to find the most appropriate mortgage deal for their circumstances.
Earlier this year I was contacted by a client looking to purchase a new build property in Yeovil. The property was listed for sale at £349k and the client was only in possession of a 10% deposit, which immediately led to a limited amount of lenders that would consider such a high mortgage amount.
In addition, to add to the complexity of the issue the client had recently become a major shareholder in the family business. By doing this she converted the majority of her income into monthly dividends for tax purposes. Due to having a significantly reduced regular income they discovered that no high street lender was willing to lend to them due to how recently the change in circumstances had occurred, meaning there was no tax return yet available for the self employed element of their income.
Following a thorough fact find of the individuals circumstances I was able to source a lender who took into account the uniqueness and complexities of the individuals case, to which I then submitted the application. This was in turn approved and offered to the client who is now proceeding with the purchase of their property.
Do you have complex mortgage requirements that the high street have let you down on?
To discuss your mortgage and protection requirements today contact me,
Mortgage and Protection Adviser