Mortgage secured for First Time Buyers, irrespective of furlough income
£240,000 maximum borrowing achieved at 5 x income
Clients delighted with successful lending achieved at 1.43%
Our clients were a First Time Buyer couple, one of whom was employed in an Administrative role and the other as Chef who had been placed on the furlough scheme.
What was needed
The clients wanted to arrange borrowing of £240,000 for the purchase of their first home. The deposit amount was being paid from abroad.
What was the challenge
Before they contacted Rose Capital Partners, the clients had spoken with several other Mortgage Brokers, but all were unable to assist the clients to find a lender who would agree to borrowing of the required loan amount. The challenge was to find a lender who would accept furlough income and lend the maximum multiple.
How we provided the solution
Joanna Ziou, Associate, took on the couple’s case and clarified their mortgage goals. Joanna researched and assessed possible lenders until she identified the one that she could successfully place the mortgage case with. The clients were very pleased with the result as their successful mortgage application enabled them to buy their first home.
What was the rate
The interest rate was 1.43%