- Client: UK National and Resident
- Property Value: Approximately £1.5M
- Loan Amount: Approximately £1.2M
Enness was introduced to a finance professional through an existing client who had previously used our services. Having purchased their current home only one to two years earlier, the client was already looking to move again as the property no longer provided sufficient space for their future family plans. They therefore needed to secure a larger home within a tight timeframe.
The client was a high earner, but their income structure presented a key consideration for the application. A significant proportion of their earnings came from commission, which is variable and not guaranteed. The lender therefore needed to be comfortable considering this income when assessing affordability for the new mortgage and the client’s existing financial commitments.
Timing added another layer of complexity. The client needed to complete on the new property before their existing home had been sold, meaning the existing mortgage would remain in place for a period alongside the new borrowing. We therefore needed to identify a lender that could assess affordability across both mortgages from day one.
Enness identified a lender able to take 100% of the client’s commission income into consideration for affordability. This provided sufficient borrowing capacity to support both the existing and new mortgage commitments, allowing the client to proceed with the purchase without waiting for their current property to sell.
We secured a residential mortgage of approximately £1.2M against the £1.5M property at a competitive rate. The lender also offered a generous overpayment allowance, giving the client flexibility to use proceeds from the eventual sale of their existing property to reduce the outstanding balance and lower the loan-to-value.
Speed was critical throughout the transaction. Thanks to the suitability of the lender and the strength of the application, the mortgage offer was issued just four days after the application was submitted, helping the client progress with their purchase within the required timeframe.
This case demonstrates how a detailed understanding of income structure can make a significant difference when arranging finance for high-earning clients. By identifying a lender comfortable with variable commission income and overlapping mortgage commitments, Enness was able to structure a solution that supported the client’s immediate purchase while retaining flexibility for the future.
If you have complex income, are looking to upsize before selling your existing property, or require a mortgage based on variable earnings, speak to a mortgage specialist to explore your options.
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Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
