£1m mortgage arranged for a first time buyer with a complex income stream

Image of £1m mortgage arranged for a first time buyer with a complex income stream case study.

Are you a first time buyer seeking a loan worth over £1m? Perhaps you work in a profession where a portion of your income is from bonuses, or you are self-employed with a complex income stream?  We are experts at arranging large mortgages with private and specialist banks who are happy to lend to such individuals.

To discuss this or any other large mortgage case, please contact us.

Case Profile

Our client was a first time buyer looking to purchase their first property, valued at £1.375m.  She had a 15% deposit so was looking to secure a higher than usual loan to value (LTV) at 85%.  Most lenders will only lend up to 75% LTV for first time buyers looking to borrow over £1m, so this presented us with a challenge.

In addition, our client’s income was complex as a significant proportion of her earnings was based on bonuses.  She had recently started a new job and was relying on the track record of the bonuses from her previous employment, along with bonuses earned in her new role, to help her secure a mortgage.

Solution

Faced with the challenge of securing a high LTV loan for over £1m for our first time buyer client, and despite her complex income streams, our adviser managed to negotiate the ideal solution with a specialist lender.

We secured the 85% LTV that our client needed on a low 5 year fixed rate product.  In order to make the monthly payments affordable, we extended the term to 40 years but with the option of paying down her mortgage as and when our client received bonus or future income payments.

The client was happy to know that her monthly repayments were manageable and predicable for the first five years of the mortgage term but with the flexibility of being able to make lump sum payments as and when she could.

Return to Our Case Studies

Our insights


We are the UK’s leading specialist in delivering innovative and bespoke financing solutions to global clients.

Reviews


Specialists in creating innovative and bespoke funding solutions.

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.

Largemortgageloans.com Limited is registered with the Guernsey Financial Services Commission, reference number: 2269418, as a Non-Regulated Financial Services Business.  

Largemortgageloans.com Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.