Joint mortgage sole proprietor arrangement for £4.5million flat

22nd May 2018

Victoria Barton

Joint mortgage sole proprietor arrangement for £4.5million flat
Victoria Barton

Victoria Barton

I recently assisted two clients, a married couple with an existing joint mortgage held in the husband’s name. This was for a beautiful property in a desirable area of London, valued at £4.5million. My clients were looking to refinance this property, but unfortunately, their circumstances had changed slightly since they had initially taken out the mortgage.

The husband was now on a slightly lower salary, which meant they were struggling to find a lender who could offer them the loan size they needed. The husband also only had one years’ bonus history with his current employer; lenders will generally look to see several years’ worth of bonuses to assess affordability.

We, therefore, needed to use the wife’s income to meet the affordability criteria for a loan of this size. However, the wife did not want to go onto the deeds as this would create a stamp duty issue. To add further difficulty, the wife was a partner in a law firm, which meant she had a complicated income structure which some lenders can find challenging.


I, therefore, suggested we use a lender who offers a joint mortgage sole proprietor arrangement. This meant the wife could go on the loan to assist with affordability, but would not be on the deeds, which meant we would avoid the stamp duty liability. I also presented the husband’s strong career history to provide comfort that the bonus can be used towards affordability and also presented the wife’s income as clearly as possible to get the smoothest underwrite we could.

This lender has a very flexible underwriting approach, which makes them the ideal match for many clients with complex profiles. I also have an excellent relationship with the underwriter, which means I can help carry cases to completion even if we hit bumps along the way. The final product was a 2-year fixed-rate at 1.59%, which was a great solution for my clients.

Whether you’re looking for a joint mortgage sole proprietor loan or have complex large loan requirements, I am confident we can help. If you’d like to discuss your options, please contact me below.

Call us +44 (0) 203 758 9393 or submit your details and a broker will get in touch.

Enness Limited needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, please review our Privacy Policy.

The Global High  Net Worth  Mortgage Guide

The Global High Net Worth Mortgage Guide

Are you considering buying a high-value international property? 

Our handy Global High Net Worth Mortgage Guide explores the world of international mortgage finance in prime property markets around the world. 

Whatever your property financing requirements, we have a specialist team in place dedicated to finding the best and most efficient solution. 

Let us guide you through the complex world of mortgages.  

Download Pdf