Our client was a single person who was self-employed and a first-time buyer. He had been given the opportunity to purchase his rented home from his landlord.
After meeting with the client to gather information, we realised that we need to find a lender who would provide a mortgage at 90% loan-to-value and accept his self-employed income alone which had fluctuated over the last three years. After a further review, we discussed that the lender would also need to accept him buying the property on the basis of being a sitting tenant.
We explored all the options available for our first-time buyer client and found a lender that would lend at the required loan-to-value amount and was happy to accept the income once we provided a business case to explain what and how the client worked and a projection of his future income.
We are pleased to say that the client is now a homeowner and very happy in his new home.
Resolve Financial Solutions explore all of your options with you in order to find the perfect solution to suit your needs. Get in touch today to discuss your requirements.
*Your home may be repossessed if you do not keep up repayment on your mortgage.