Business investment funds secured for remortgage applicant

Read below a case involving an applicant who was approved for a remortgage from our Tailored Approach range – a special range of residential and Buy to Let products designed to accommodate borrowers with specialist requirements.

The application: 

  • The applicant requested £300,000 to remortgage his residential property, using the funds raised to invest in a livestock business he had been working with for two years as a consultant
  • The applicant was a specialist and self-employed consultant within the farming industry and was also studying towards a degree
  • The applicant’s studies had resulted in a reduction in income for the past two years, during which time he had been receiving a stipend

Our solution: 

Having been provided with proof of income for his work as a consultant, we used this figure to determine affordability based on a projection of what his income would be once it had returned to normal following the completion of his studies within the next year. Once we were comfortable with the monthly repayments, we offered the applicant a product from our Tailored Approach range for the full amount at 40% LTV over 30 years.

Mortgage & Sales Distribution Senior Manager, Evan Crosskey, said:
“Due to the applicant currently receiving financial assistance whilst studying, he failed to meet the criteria of other lenders and was struggling to secure a mortgage. Using manual underwriting, our mortgage experts found a solution for the client, using a projection of his income from his consultancy work, allowing us to proceed with the mortgage.”
The exciting life of our CEO

Last week, our Chief Executive, Colin Fyfe, had a rather exciting week. Kicking off with our first live online event, where brokers were invited to speak directly to our panel of mortgage experts about their cases.

Those who joined the two-hour drop-in event were welcome to discuss their cases, ask questions about the decision-making process, or simply watch the format of the Mortgage Referrals Committee – a daily meeting where mortgage cases are discussed on a case-by-case basis. (Get in touch if you have a complex case you’d like referred to our Mortgage Referrals Committee.)

On Wednesday, Colin was dramatically ‘locked up’ for 24 hours in a challenge to raise money for Comic Relief – which accumulated donations of over £2,800 for the charity.

Read about the success of our first online live event, including feedback from brokers who attended, here. Read more about Colin’s impressive jail break on our website.

Do you have a complex case you would like to discuss?

Contact our dedicated Business Development team:

📞 01455 894084 ✉ development@hrbs.co.uk

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