Overview

• Client: Ex-banker
• Property Value: £2,700,000
• Loan Amount: £750,000
• Loan-to-Value: 28%

The Situation

Our client, an ex-banker, was approaching a remortgage and required a lender who could take a more flexible view of his income.

A key requirement was for income protection payments to be considered as part of affordability, while also securing an interest-only mortgage to maintain lower monthly commitments and continue investing surplus income.

The Challenge

Most lenders do not readily accept income protection payments as a primary source of income, significantly limiting the available options.

In addition, combining this with an interest-only structure further narrowed the pool of suitable lenders.

Our Approach

We carried out a detailed review of the market, speaking directly with a range of lenders to identify those willing to consider income protection payments within their affordability assessments.

From there, we refined the shortlist to lenders also offering interest-only options that aligned with the client’s goals. Leveraging our existing relationships, we were able to clearly understand the specific documentation requirements and present the application in the strongest possible way.

The Outcome

We successfully secured a new lender who met all of the client’s requirements, arranging an interest-only remortgage tailored to his circumstances.

This allowed the client to maintain flexibility in his finances, continue growing his investment portfolio, and reduce the cost of his remortgage.

Need advice on a complex income or remortgage scenario? Get in touch to explore your options.