Key Details:
- 90% loan-to-value
- Joint borrower, sole proprietor structure
- Circa £30,000 employed income
A first-time buyer was looking to purchase a property valued at approximately £885,000. With an employed income of circa £30,000 per annum, she was unable to meet affordability requirements independently, creating a significant barrier to securing the necessary borrowing.
We structured the mortgage on a joint borrower, sole proprietor basis. The client’s parents, who had strong and stable incomes, joined the application to support affordability while the daughter remained the sole owner and occupier of the property. The lender was satisfied that the parents could comfortably service the new mortgage in addition to their existing commitments and lifestyle costs.
This structure enabled the client to secure 90% loan-to-value financing and successfully purchase her first home.
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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.
