Complex Income Residential Mortgage
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Case Study
Complex Income Residential Mortgage
Background
June 2020
Working as a Managing Director in a well-known investment bank in London, our client was looking to purchase his dream home, valued at £2,175,000.
Already an established portfolio landlord with several properties in the background, the client had previously worked with the team and was now seeking additional expert advice for his residential purchase.
Angela Blakesley
Senior Buy to Let & Residential Specialist
If you are looking for the best deal for your home, you can get in contact with Angela today by calling 08009499410 or by sending her a quick email.
The Challenge
The transaction was a seemingly straight forward purchase, but the complexity came in regards to the client’s income as his salary was heavily weighted towards an annual performance-related bonus, a common feature in the financial sector.
Some lenders will not accept income based on annual bonuses and will further restrict the loan to value on high-value properties. On the surface, this could have caused issues for the client when trying to secure the larger deposit needed to move forward but with Buy to Let and Residential Specialist, Angela, on the case the client was in very capable hands.
Our Strategy
Always one to go above and beyond for her clients, Angela quickly set out to assess the maximum borrowing potential of the client’s full portfolio. Having handled several purchases for him over the years and always looking at the bigger picture, Angela could quickly review the situation and identified that HSBC as a lender that would accept the bonus income at that time.
Keeping the client’s overall portfolio goals in mind, Angela suggested three smaller mortgages on properties already in the client’s portfolio in order to raise the funds needed for the residential deposit. This was something that the client had not considered previously but by doing so, Angela was easily able to secure the £1,395,000 needed and the client benefitted from a much better rate on his new residential mortgage.
A Champion Of Complex Lending
A true superstar of the mortgage world, Angela won Best Complex Buy to Let Broker in The British Specialist Lending Awards 2019! An accolade that we are immensely proud of.
The Results
| Property Value | £2,175,000 |
| Loan Amount | £1,395,000 |
| LTV | 65% |
| Rate | 1.89% |
| Term | 2 year fixed over 23 years |
| Mortgage Lender | HSBC |
With over 18 years of financial advisory experience under her belt, Angela’s extensive lender knowledge and criteria prowess meant that she was able to not only secure the client the most cost-effective interest-only mortgage for their residential home but also match mortgage products to the client’s goal for each property in his portfolio, tailoring each to his future portfolio expansion plans.
The client is now fully enjoying his new London home as well as great rates across his entire Buy to Let portfolio.
Everything You Need In One Place
Feefo Platinum Trusted Service Winner 2020 & 2021 ⭐️⭐️⭐️⭐️⭐️
Whether you are looking for your next Buy to Let or Residential purchase, you can benefit from Angela’s expertise with one quick call. To find your maximum borrowing potential, call us today on 08009499410 If you are in a hurry, you can also request a callback by simply entering your details below.
