Recently we helped a 62-year-old client nearing the end of their mortgage term. Facing intense pressure to pay off the loan, the client feared they would be forced to sell their family home. > Key obstacles included: Age: He required a mortgage term extending to retirement at age 80. Income: Reliant on self-employed earnings from the most recent year’s accounts. Credit history: Past blips meant limited access to many other lenders. End-of-Term pressure: Risked losing home due to lender’s demand for full repayment. Interest-Only preference: Needed to keep monthly payments manageable. > Our Specialist Lending Solution Extended term: Approved a 17-year mortgage aligned with retirement plans. Interest-Only structure: Offered a £300,000 loan with affordable monthly payments. Can-do underwriting: Accepted the latest accounts, viewing minor credit issues as immaterial. Our client told us that our service ...
Did you know one of our bespoke lender can assist with clients who are self employed with the following scenarios…. ✓ One full year’s SA302s and TYOs considered – on these cases; Maximum LTV of 90% Ideally clients with employed history in the industry prior to going self employed ( if not, will consider if they have guaranteed income in the current financial year) We may request 3 months personal and business bank statements for these clients For Limited Company Directors and 1 years accounts, use salary and dividends ✓ Using Latest years figures Maximum 95% LTV on Level 1, 90% Level 2, and 80 % for Level 3 Wherever possible we will use latest years figures (if there has been significant increases, we will likely need additional supporting info such as Accountants reference to confirm sustainability) If the previous year was lower, tell us. If the figure 2 years ago was the start-up year for example, add details in the notes sectio...