Bespoke is Bank of Ireland for Intermediaries’ personalised and flexible service for good quality complex cases. It supports brokers with clients who have good affordability, but don’t fit straightforward lending criteria, such as self employed, contractors, complex company structures and larger loans. As long as the case meets five golden rules, their specialist BDMs have expert knowledge and experience to help you find a home for those cases that are often difficult to place.

What are their five golden rules?

Your client will need to meet the following:

  • Residential mortgage only
  • Pass their credit score and meet their minimum income and loan size requirements
  • Income must be paid in GBP
  • Up to 90% LTV (including fees)
  • Must meet their standard property criteria.

How do I access Bespoke?

  • Call or email your BDM, contact details can be found here: bankofireland4intermediaries.co.uk/find-your-bdm
  • Your BDM will talk you through how to submit the AIP. AIP decisions are within 24 hours.
  • Your case will be dealt with by the same underwriter until completion.

What types of self employed customers can they help?

  • Net profit after tax plus salary can be used instead of salary and dividends.
  • One year’s trading with Finalised Accounts.
  • Latest year’s accounts.
  • Minority shareholding Ltd Company Directors.
  • Changes to status e.g. sole trader to Ltd Company.
  • 5 x income can be applied.

Here’s just one example of how they’ve helped a self employed applicant using the last year’s accounts

Application for loan of £922,500 at 70% LTV

  • The applicant’s company’s previous year’s profits were slightly lower than normal. With this recent dip in profits they wouldn’t have been able to secure the loan on standard terms.
  • When reviewing the case Bank of Ireland were able to obtain evidence that the current year was on track to be equivalent to other normal years’ profits. The applicant was also able to give an acceptable reason for the one-off fall in profits.
  • They therefore used the latest year’s net profit after tax (NPAT) and salary for their income assessment to achieve the loan amount required.

To see how they’ve helped more self employed applicants as well as other clients with complex cases, view their case studies.

For more information speak to your Bank of Ireland for Intermediaries BDM today.