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

 

James Palmer

Senior Associate

London

0203 900 4322

Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.

Sam ONeill

Finance Broker

Bristol

0117 959 5094

Have a similar situation? I specialize in bridging finance and can provide creative solutions for your property funding requirements.

Sam Norris

Senior Finance Broker

London

0203 900 4322

Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.

Adam Arnott

Senior Associate

Bristol

0117 959 5094

Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.

Paul Adams

Senior Associate

Bristol Office

0117 959 5094

Have a similar situation? I have over 20 years experience in providing property finance solutions for UK and International clients. I look forward to hearing from you.

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