Quick Mortgage for Complex Income Client

19th September 2022

Richard Webb

Quick Mortgage for Complex Income Client
Richard Webb

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.

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.