Married, self-employed couple raise £600,000
The couple hoped to gift to their son and finance an extension on their property.
By looking at factors such as the couples’ private pensions and other income, we were able to grant the full loan amount requested which was 9 x LTI. With our 5-year fix product at 55% LTV, the couple got the exact outcome they had hoped for.
Proving plausible income for retiree, 92
A single, 92 year old retired applicant wanted a mortgage for her dream penthouse, but had been rejected by high street lenders due to her age.
We took into account her two pension income streams and state benefit allowance, offering our 5-year fixed product to grant the full loan requested so she could buy the apartment as planned.
Debt consolidation for retiree, 75, with adverse debt
A retired single applicant, 75, had been effectively homeless for two years and lodging with a friend. She wanted to consolidate her debts and purchase a home but high street lenders said no due to some adverse debt and her age.
By looking at her personal pension, we showed there was plausible income and used our lifetime-fixed interest only product to lend the full £145,000 (at 67.5% LTV) required. She cleared her debts and finally has a own to call her own.
Mortgage prisoner, 87, stays in the home they love
A single, retired applicant, 87, was approaching end of term with her lender. Due to her age and the high LTV required, she thought her only option was to sell her home and move into rented accommodation.
We used her personal pension to demonstrate plausible income and grant the full loan amount of £85k, with a lifetime-fixed interest only product at the full 75% LTV required to stay in her home and never need another mortgage.