The Case
Our clients were moving to a larger property within the same part of London, requiring a mortgage of around 65% LTV on a purchase price of £1.8m.
The Challenges
This case provided two key challenges: affordability and timing:
To reach affordability we added 75% of the main applicants substantial annual bonus to their employment income from a city based banking job. By considering six times income the case met affordability requirements.
We were notified at the point of application of a fixed timescale on this case, with completion required by early November.
The Outcome
Regular, precise and actionable communication between ourselves, the broker and their client meant all parties were on board with ensuring each step of the process was completed on time to deliver completion less than 40 days after application.
Faster mortgages: TFI’s top tips revealed
- Short deadline? Make us aware from the outset
- The Ugly, the bad and the good: we want to know it all so we can see any case challenges upfront and find the right solution
- Go the whole nine yards: Complete all paperwork fully as partially completed documents or those without sufficient information may cause delays
- Extra extra: if we need more detail supply it as quickly as you’re able to – and keep us informed
Three rings: keep in touch. If something has changed or there is a problem let us know so we can work together
