{"id":14167,"date":"2021-05-10T06:57:33","date_gmt":"2021-05-09T22:57:33","guid":{"rendered":"https:\/\/www.dev.articusfinance.com\/uncategorized-ch\/3-million-interest-only-mortgage-for-solicitor-with-complex-income"},"modified":"2023-09-14T16:04:21","modified_gmt":"2023-09-14T08:04:21","slug":"3-million-interest-only-mortgage-for-solicitor-with-complex-income","status":"publish","type":"post","link":"https:\/\/www.articusfinance.com\/ch\/case-studies\/3-million-interest-only-mortgage-for-solicitor-with-complex-income","title":{"rendered":"\u00a33 Million interest only mortgage for solicitor with complex income"},"content":{"rendered":"<p style=\"font-size: 13px;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\"><strong><span style=\"color: #134f5c;\">The case in brief<\/span><\/strong><\/span><\/p>\n<p><!--more--><\/p>\n<ul style=\"font-size: 13px;\">\n<li><span style=\"color: #134f5c;\">Client: UK national and resident\u00a0<\/span><\/li>\n<li><span style=\"color: #134f5c;\">Property type: Residential purchase\u00a0<\/span><\/li>\n<li><span style=\"color: #134f5c;\">Property value: \u00a34.5 million<\/span><\/li>\n<li><span style=\"color: #134f5c;\">Loan Amount: \u00a33 million<\/span><\/li>\n<li><span style=\"color: #134f5c;\">LTV: 66%<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Many solicitors earnings are tied to their partnership or as a profit share from a larger concern. Their basic income can be relatively low compared to their gross income, meaning that complexities can arise when applying for a certain level of mortgage. In this instance, our client was facing difficulties in finding a lender for this very reason.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #134f5c; font-family: Verdana, Geneva, sans-serif;\"><strong>The client<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Our client was a partner of a very reputable law firm, looking to move home and purchase a new main residence with a significant property value. As a UK national and UK resident with a high-level income, our client appeared at face value to be the ideal client for a range of lenders. Our clients income consisted of a basic income supplemented by a profit share from his law firm.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">The client had, however, found a sparsity of lenders who were willing to consider these income circumstances. Our client approached Articus Finance in order to identify a lender who would take a more holistic and flexible approach to their income.<\/span><\/p>\n<h2 style=\"color: #134f5c; font-size: 15px; font-family: Verdana, Geneva, sans-serif;\"><strong>Our solution<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Searching for a lender who will take a flexible approach to non standard income streams can be a frustrating and ultimately unrewarding experience. Our understanding of our clients needs and income potential enabled us to approach a reputable private bank to apply for this loan.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Due to our close relationships with this lender, we were able to convey the overall earnings of our client and therefore maximise their borrowing potential. This resulted in achieving a mortgage of \u00a33 million, resulting in our client being able to fund their preferred property.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">This was the outcome that the client had strived for and proves that with the right partner, those with unusual income streams can gain access to the finance that they need.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Verdana, Geneva, sans-serif;\">Finding a lender who will take into consideration other forms of income other than your basic can be difficult. We are experts in maximising your income to fund your ideal property. Read more about our <span style=\"color: #45818e;\"><a style=\"font-weight: normal; text-decoration: underline; color: #45818e;\" href=\"https:\/\/www.articusfinance.com\/ch\/private-bank-mortgages\" target=\"_blank\" rel=\"noopener\">private bank mortgage services<\/a><\/span>, or <a href=\"https:\/\/www.articusfinance.com\/ch\/contact\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #45818e;\"><span style=\"text-decoration: underline;\">speak to a broker toda<\/span>y.<\/span><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case in brief<\/p>\n","protected":false},"author":1,"featured_media":14168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[70],"tags":[],"class_list":["post-14167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.articusfinance.com\/wp-content\/uploads\/2023\/01\/mortgage-for-solicitor-case-study.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/comments?post=14167"}],"version-history":[{"count":1,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14167\/revisions"}],"predecessor-version":[{"id":20968,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/posts\/14167\/revisions\/20968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/media\/14168"}],"wp:attachment":[{"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/media?parent=14167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/categories?post=14167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.articusfinance.com\/ch\/wp-json\/wp\/v2\/tags?post=14167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}