Requirements

Our clients, an economist and a management consultant, did fantastically well to save enough for a 10% deposit and stamp duty. To buy their first home, a house at £1.2m in North London, they required a mortgage just shy of £1.1m - not readily available with this amount of deposit and less so for first time buyers.

To buy their first home, a house at £1.2m in North London, they required a mortgage just shy of £1.1m - not readily available with this amount of deposit and less so for first time buyers.

‍Process

On first impression, the options were limited. In fact, it would be fair to say there were no options!

Knowing that many lenders could assist if the loan amount were below £1m, I reached out to contacts at the most competitive lenders to see if a case could be made to consider a higher mortgage amount on merit - selling the clients strengths, to win underwriters over

Solution

Fortunately, it worked, underwriter onside, the market leading lender felt comfortable to increase their max loan achieving the full borrowing needed. A great result for lovely clients now enjoying their first home.