Logo
Global

Quick Mortgage for Complex Income Client

19th September 2022
MORTGAGE BROKER

Richard Webb

contact
Quick Mortgage for Complex Income Client
Richard Webb
MORTGAGE BROKER

Richard Webb

Key Figures: 

  • Client: British National & Resident
  • Property type: Semi-detached house
  • Property Value: £2,520,000
  • Loan Amount: £1,890,000
  • LTV: 75%
  • Interest Rate: 3.79%
  • Term: 28 Years

Here at Enness, we work with entrepreneurs, self-employed individuals, contractors and all other 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 British national and resident who was looking to purchase a semi-detached house in the affluent riverside neighbourhood of Chiswick. The client was a 100% shareholder and owner of a business operating in the hospitality industry, however, was no longer working for the business and had handed all management duties to their partner. With the property worth £2.52 million, the client was looking for a 75% LTV mortgage, which meant a deposit of £630,000 was required. 

A key challenge, in this case, was that the client only had a deposit amount of £393,000 readily available. To raise an additional £220,000, the client wanted to release equity from one of the properties in their buy-to-let portfolio. The remaining shortfall of £17,000 was made up from monies in the business, with net profits before tax used to enhance affordability. 

What is more, we were also faced with a tight deadline of 3 weeks to get this offered. Despite the extended service level agreement (SLA) of all lenders, we successfully managed to get this application approved in 2 weeks. With proven experience dealing with challenging scenarios, Enness will be able to secure a mortgage for you, even if you have a delicate or unusual background. Focused on delivering workable solutions whatever your circumstances, Enness can source a financing solution for you, even if others have failed.