Large UK Mortgage for Complex Income Structure Client

30th May 2022

Michael Frimpong

Large UK Mortgage for Complex Income Structure Client
Michael Frimpong

Michael Frimpong

Key Facts: 

  • Client: British National & Resident 
  • Property type: 5 bed detached house 
  • Property Value: £1,500,000
  • Loan Amount: £900,000
  • LTV: 60% 
  • Rate: 2.49% - 3 year discounted variable 

Here at Enness, we work with entrepreneurs, self-employed individuals, contractors and all other complex income types daily. We understand this market and know what it takes to achieve the best possible solution whether it be a complex mortgage application or simpler. 

We were recently approached by a client who had just sold their business. They were paid an initial sum with further payments due over the next 3 years subject to the business performance. They were also taken on as an employee of the business post-sale for a minimum of three years. 

In this case, we used the initial payment from the business sale to complete their residential purchase in cash. The client also wanted to get into the business of renovation and letting property, which meant we had to find a lender who would allow them to remortgage their property within 6 months of ownership and also use the next 3 years post sale of the business payments for affordability of the mortgage.

We work with every lender in the market and know them and their criteria inside out to be able to deliver the best complex mortgage solution that suits your requirements. From huge international banks right down to regional building societies and peer to peer solutions, our working relationships are vast, varied and trusted. The lender we approached was able to offer a 6 year interest-only mortgage with the condition that there is simultaneous completion of this remortgage with the purchase of the investment property they are raising the funds for. This is impressive, considering their employed income would have only gotten them a mortgage of around £275,000. 

Available to you 24/7 from the moment you get in touch, Enness delivers bespoke financing solutions, no matter how complex your situation or how large your mortgage.

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