London Law Firm Partner Mortgage With Low Deposit

Area
London
Capital Raised
£1.7M

The Scenario

Our client, a non-equity partner at a large London law firm, was looking to purchase their first property.They found a property in North West London for £1.9m, but only had a 5% deposit.

Based on client's recent and current income, they could not afford the monthly payments of the £1.8m mortgage. However, due to their recent change in circumstances, the next two years would see a significant improvement in the client's earnings.

The vendor had asked for a speedy turnaround to exchange, which added to the complexity. The property was in need of renovation, so the client needed to keep as much cash in the bank as possible for works to be done.

Our Solution

We were able to use our private bank contacts to source a lender who was comfortable with considering the client's future potential earnings to make the loan amount affordable.

We arranged the loan at 95% loan to value (LTV), so the client only had to fund 5% of the initial purchase. We were able to secure the loan by agreeing to bring the overall LTV down over a 5 year period, to get the loan back within the lender's comfort zone. We did this by structuring three products side by side, which worked within the client's budget.

 

 *Overall Cost For Comparison

 

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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