Large mortgage arranged for client with no taxable income

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Tuesday October 25, 2016

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Case profile

Our client wanted to purchase a new main residence. However, due to the method in which he earned his income it was highly challenging to find a lender willing to take a view on it.

The client was a professional sports trader whose earnings were derived from electronic bets made on betting exchanges for various sporting events.

Although the client had over 7 years’ trading history, all the earnings from such activities were not liable for income tax as they were classified as ‘bets’ by the HMRC. As such, no formal trading accounts existed that reflected the client’s total annual earnings, which were in excess of £400,000.

The lack of taxable income accounts, and the nature of the client’s work meant that vast majority of lenders were not willing to lend to the client.


Through our considerable range of private bank and niche lender contacts, we were able to source a bespoke solution from a niche lender that was prepared to accept that the client’s gross income was required.

The client was required to submit substantial betting trade account history, bank statements, and an accountant’s letter, as well as showing a positive balance on his savings accounts at the end of each month.

We secured excellent terms for the client, who was very happy and able to proceed with the purchase of his new home.

Deal Highlights

Loan amount:£665,000
Rate:3.99% fixed rate for 5 years
APR:Overall cost for comparison 5.10% APR representative variable
Term:25 years
Type:Capital Repayment
Loan purpose:Purchase
Lender’s arrangement fee:0.75% of loan amount
Early repayment charges:3% of loan balance for first 4 years and 1% in year five


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 The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it.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 5.10% APR representative variable based on 25 years at 3.99%. Lender’s arrangement fee of 0.75% of the loan amount. The actual rate available will depend on your circumstances. Ask for a personalised illustration.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt.

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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. is a trading name of 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: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. 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.
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