17 May 2021
Bespoke mortgages are there for you when you do not fit ‘normal’ criteria.
What is normal?
Normal doesn’t feel like it has much of a place anymore, seeming ever more like a word of the past. Every mortgage enquiry is unique, and quite often we are faced with clients that do not necessarily tick any of the wrath of boxes available to them.
Thankfully our bespoke lenders have dedicated underwriters who understand complex income structures or special situations that require a sensible decision. Ultimately an underwriter is assessing the risk of lending funds on behalf of the lender. It is up to us as brokers to build a case that helps them make an easy decision and see the positives of the application.
Cases we have secured recently with bespoke lenders
-Newly formed business with one years trading history, £500,000 mortgage over a 30-year term
-Shareholder of a recently incorporated partnership wasn’t drawing any income, mortgage agreed on historic accounts and retained profits
-Hairdresser affected by COVID had very little income last year so income agreed on pre-covid terms
-£1.3m mortgage agreed for a client who started a new employment contract during the application process, also retaining their existing property to let
-Mortgage prisoner assisted with porting their existing mortgage with zero income as recently sold their business – mortgage agreed based on savings to support mortgage
If your situation doesn’t fit the mould email us at email@example.com or contact us here