Below is a selection of some of the clients we have helped recently
The last month has been extremely busy for new enquiries and applications, and flies in the face of some of the negative press about the state of the housing market nationally.
All of the following mortgage offers were successfully received from mainstream lenders at prime rates during the month, could we help you?
Self-employed – a husband and wife with 2 years accounts but the 1st year’s income was very low. We were able to use their income from the 2nd year of trading only which was much greater than year 1, plus 100% of income received from a part-time job. They had looked elsewhere and been declined, and were very happy to receive the keys for their first home.
Interest only into retirement – we helped a couple in their 70’s who were looking to move home but wanted an interest only mortgage until age 80 as the monthly payments on a repayment loan were too high. Their sole source of income was retirement income.
Help to Buy repayment – our client wanted to own her home outright and repay the Help to Buy equity loan back to the Government. She needed 90% loan to value as the value of her property hadn’t risen greatly and we were able to secure this for her at best buy rates.
Retain existing home and buy a new residential home – our client wanted to retain their existing home and raise capital against this to fund the deposit on a new purchase. It was made more complicated by the fact that one of the applicants worked overseas and was paid in US Dollars. We arranged a let to buy mortgage on their current home and a residential mortgage on their new purchase.
First time buyers – our clients are self employed and one of them is a non-UK passport holder. We secured a 95% mortgage with a local Building Society.
Newly self employed dentist – our client became self-employed in September 2017 and is receiving a gifted deposit from his parents. Most banks require 3 years trading history, but we have managed to secure a mortgage based on less than one years self employed income.
This is a snapshot of the enquiries that we have received with positive outcomes for our clients. We offer local, face to face, independent mortgage advice and can advise on the best solutions for you.
Paul Hardingham and Tony Ibson are Mortgage and Protection Advisers at Innovate Mortgages and Loans. Both have over 20 years of experience advising individuals and businesses across the North East of England. They can be contacted for bespoke advice at paul@innovateml.co.uk or tony@innovateml.co.uk or call 0191 223 3514.
