HNW Loans for the Self-Employed.

Solution Step 2 – Packaging the application to the Lender.

We worked with the client to assemble a comprehensive application package, which could include:

• Finalised company accounts
• SA302s and tax year overviews
• Recent personal and business bank statements
• Evidence of salary and dividends
• Company ownership information
• Details of existing assets and liabilities
• Proof and source of the £400,000 deposit
• Property details and valuation information
• Identification and other information required for underwriting

The objective was to present the client’s financial position clearly, accurately and consistently, allowing the lender to assess the application against its own criteria.

Outcome

Following the lender’s assessment, a mortgage offer of £1.2 million was achieved against the £1.6 million property.

The challenge was not simply obtaining a £1.2 million mortgage. The client was self-employed, meaning that their income required a more detailed assessment than a conventional employed application.

Why specialist advice was important

Our role was to understand the client’s complete financial circumstances, identify potentially suitable lending criteria, structure the application appropriately and manage the process through underwriting.