Logo
Global

High LTV Mortgage for Self-Employed Client

High LTV Mortgage for Self-Employed Client

Key Facts: 

  • Client: British Resident and National
  • Property Value: £4,625,000
  • Loan Amount: £3,952,500
  • LTV: 85%
  • Rate: 2.79% per annum with 1% fee

Despite more and more people opting to become self-employed, it’s still challenging to get a mortgage, which can be both worrying and frustrating if you want to purchase a property. Challenges often arise as it’s not easy to prove you have a steady income stream that is significant enough to get the mortgage you want. 

A recent case involves arranging a high LTV (loan-to-value) mortgage for a self-employed client for his prime London property purchase. The property was worth £4.625 million and the client wanted to borrow 85% of that amount.

In the bank’s eyes, self-employed individuals are less likely to have a regular and stable monthly income compared to those who are employed, although every lender works differently. Affordability now dominates mortgage applications, requiring both self-employed and employed individuals to provide in-depth details of both their outgoings and expenses, as well as overall income.

The good news is, the assessment of mortgages for self-employed individuals has improved dramatically, especially when the case is presented correctly by a broker. Although being self-employed is no longer as prohibitive as it once was when it comes to getting a mortgage, finding a lender willing to take a holistic view of self-employment all comes down to access.

Enness has specialist knowledge of this relatively niche area of the market and unrivalled experience in handling applications for self-employed individuals. As such, we sourced an attractive deal for the client at the rate of  2.79% per annum. 

Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.

Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.