The Mortgage Lender supports complex self-employed case with large loans deal

Real life lending is our bread and butter, and when brokers come to us in need of our help, we strive to support them to get the best outcome possible.

We recently had a case where a broker was trying to secure a mortgage for a self-employed couple who hadn’t quite found what they were looking for from previous lenders. But not only did they have a complex income stream, they were also looking for a large loan on an interest only basis as part of their next-time buyer journey, in addition to having some timing pressures when it came to the house being on the market.

What made this case particularly complex though was the couple’s income streams. As owners of local convenience stores, there were three for us to consider, including the latest years of pre tax profits plus salary, the latest years of partnership income, as well as additional land and property income. Working closely with our dedicated team, including our Key Account Manager Alice Baggott and underwriter Leanne Robertson, we were successfully able to offer the applicants a higher loan value than earlier offers from other lenders, with an LTV of 60%.

Clear and timely communication with the broker and end customer helped us achieve the customers property goal and support them on the next step of their property journey.

Louise Apollonio, Head of Corporate Accounts at The Mortgage Lender, comments: “Real life lending is at the heart of what we do, and so for those who have more complex income streams we look at how we can factor these in to help boost an individual’s affordability, particularly when they may have previously been told no or have more limited options offered to them before.

“The success of this particular case is also a testament to our team, with Alice and Leanne working efficiently together and regularly communicating with the broker in order to progress the case forward to achieve the customer’s property goals.”

Dev Sopal, Managing Partner at Utopia Financial Partners Ltd, comments: “Cases like this can be more challenging to place, especially when they involve complex incomes, large loans, and have a tight timeframe to work to. However the team at TML were incredibly responsive and knowledgeable which made working with them a seamless experience. They were on hand every step of the way, clear in their communication, and had a real positive attitude which made them a joy to work with.  We were pleased to offer the customer exactly what they needed in order to make the next step on their property journey.”