Professional Applicants
Application for loan of £1,800,000 at 75% LTV
- The applicant held a senior position in a large bank that paid a large income as well as bonuses. The size of loan they wanted wouldn’t have been possible under our standard loan terms.
- When reviewing the case we were happy to include the average of 100% of their bonuses during the previous two years as part of the total assessable income, even though the bonuses varied each year. This was due to the applicant’s track record of bonuses at a similar level in previous years, demonstrating a sustainable source of income.
Application for loan of £1,100,000 at 85% LTV
- One of the applicants was a self employed medical professional for 20 years and the other was a senior civil servant. The applicants’ profiles were strong as they had a combined income of c£350,000 as well as other assets including two BTL properties. The applicants wanted a part repayment and part interest only mortgage.
- We were able to agree to apply our enhanced part and part proposition with 50% LTV on interest only and the remainder on capital and interest. We agreed exceptions to our usual LTV tiers and the minimum equity at the point of application for a combined 85% LTV; above our standard loan limits.
Application for loan of £500,000 at 50% LTV
- The applicant had been an employee of a limited liability partnership (LLP) for a number of years and around 18 months ago became a self-employed partner in the firm. The LLP was well established and profitable. On standard terms the applicant would need three years’ accounts to assess in order to apply.
- When reviewing the case we agreed to include the applicant’s profit share for our assessment even though they had not been self-employed for three years.
For enquiries to be considered they must meet the below requirements:
- One applicant must have a minimum income of £40,000
- Applications up to 90% ltv considered
- Applicants must fit our clean credit profile
- Must be applicants main residential home
- Minimum loan size £150k
- Applicants must be paid in GBP
- The property must fit our standard property criteria
We can also consider cases outside of our normal loan to value limits:
- 90% – £1m
- 85% – £1.5m
- 75% – £2.5m