£1.5million residential mortgage for client with complex income structure

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Wednesday August 3, 2016

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Case profile

Our client wanted to borrow £1.5million to buy a new main residence. However, due to their complex income structure they were finding it difficult to secure a mortgage.

The income received is from two sources. The first is rental income. The fact that the accounts had losses carried forward from previous years presented a challenge. It has only been this year that the client had earned any taxable rental profit. Most lenders are not prepared to accept this income, as they average the last 3 years in order to evaluate earnings. This meant they fell below the affordability criteria.

The second source of income comes from a business that has only been trading for two years. Although the profits are growing, most banks would not accept this income as the business has been trading for less than 3 years. In addition, the majority of the profits have been retained in the business to date.


Through our extensive range of private banking contacts we were able to find a lender who would offer the client a mortgage and take a view on their income. After we presented the client’s case to the bank they created a bespoke mortgage solution.

The lender accepted that our client plans to draw a higher income from their business. In addition the client’s taxable rental income, going forward, would be substantially higher. Both of these income streams will be used to service the new mortgage.

The client was happy with this solution and was able to purchase their new home.

Deal Highlights

Loan amount:£1,500,000
Rate:2.19% (1.69% plus BoE base rate (currently 0.5%))
APR:Overall cost for comparison 3.16% APR representative variable
Term:25 years
Type:Part Interest only (£1.4m), part repayment (£100k)
Loan purpose:Residential property purchase
Lender’s arrangement fee:0.5% of loan amount
Early repayment charges:None


This case study is for information and illustration purposes only. It is not an offer, or suggestion of an offer. Each mortgage case is assessed on an individual basis and there is no guarantee that the solution described here can be repeated in the future.

Please note that this specific deal may not be available to – or suitable for – all customers, dependent on their individual circumstances. The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it. This document may not contain all the information needed for customers to make a decision and they should seek advice.

Overall cost for comparison 3.16% APR representative variable based on 25 years at 2.19%. Lender’s arrangement fee of 0.5% of the loan amount. The actual rate available will depend on your circumstances. Ask for a personalised illustration.

largemortgageloans.com is a trading name of largemortgageloans.com Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA).The FCA does not regulate some aspects of Buy to Let mortgages, overseas mortgages, commercial mortgages, business finance and tax advice. A fee of up to 1.17% of the mortgage amount is payable, of this 25% is payable on application and the remainder on completion, e.g. on a mortgage of £1,000,000 the fee would be £11,700 of which £2,925 would be payable on application. The precise amount will depend on your circumstances.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk. The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Largemortgageloans.com Ltd is a licensed credit broker, and not a lender.

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Largemortgageloans is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London