First-time-buyer whose income was significantly affected by Covid looking for a mortgage



The client was a first-time buyer looking to purchase a £855k house with a small mortgage, giving him a low loan-to-value ratio on account of significant savings and a gift from his family. The client ticked all the requisite boxes and was a straightforward case; employed full time, low loan to income, no adverse credit, no outstanding debt, no dependents and low LTV, however, the complexities in the case were as follows:

  • The client’s job had recently been significantly affected by coronavirus and the client had given up his salary for 4 months in return for an increase in shareholding in the business.
  • The client was yet to return to work, although this was scheduled at the time of application.

Solution & lending facility

With access to every lender on the market and vast experience negotiating property finance of every kind, Private Finance’s expert brokers are equipped to find solutions to mortgage-related problems, even in the unique situations borrowers are currently facing due to the Coronavirus pandemic.

Our expert consultant was able to find a lender who was willing to accept the borrowers circumstances and meet their repayment objectives, with a 5-year fixed rate of 1.53% and the flexibility he requires to make over-payments – moreover, the client also received a cash-back offer for the lender for taking this particular product.

At the moment, lenders across the board are changing their lending criteria and coronavirus has added a huge amount of complexity to peoples incomes in certain situations – so now it is more important than ever to speak a consultant who can help you navigate this shifting market.


© Private Finance Limited, 2021. Private Finance provides independent mortgage advice and arranges individual mortgage solutions for clients. Private Finance is a trading style of Private Finance Ltd, 29 Lincolns Inn Fields, London, WC2A 3EG, registered in England no. 3855776 and its Appointed Representatives. Private Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 310566).

The British Mortgage Awards 2015 back to top