We understand how challenging it can be for many to get on the property market; indeed, many people feel it is entirely inaccessible; however, we have a case study which highlights with the proper support, most things are possible!
Karen, our broker, was approached by a lovely couple who wanted to buy their first home but had two pieces of non-standard criteria, meaning most lenders ruled them out as eligible.
First, one of the clients had a non-standard income - STIPEND which immediately ruled out many lenders as this does not fit their criteria. STIPENDs are generally non-taxable and not considered regular wages or salaries. As a result, only around 20 lenders in the UK lend on STIPEND income.
Secondly, the property was a non-standard build flat, and many lenders will not lend on this type of build. Unfortunately, most buyers don't realise this when looking for their dream home.
As we are a whole of market broker, our team has access to all lenders. We have years of experience and knowledge of what products are available, so we spend time investigating and reviewing the most suitable lenders to match our clients' requirements.
Karen got on the case and recently finalised their mortgage approval at 90% LTV, tailored to their unique circumstances. The clients are "over the moon" and moving into their dream home.
Using a whole of market mortgage broker when you have unique circumstances can increase your chances of securing a suitable mortgage, save time, and potentially reduce the overall cost of your mortgage for the following reasons:
Access to a broader range of products.
Expertise in unique situations.
Better negotiation power.
With our extensive network of lenders and personalised approach, we can help you find the perfect mortgage and insurance products to suit your needs and budget. So don't let the stress of the mortgage process hold you back - contact us today.