Recently set up a new business? Don’t let that stop you getting a mortgage!

Wednesday February 26, 2020

Changed roles or set up a new business venture in recent years? Sometimes this can cause issues with some mortgage providers who may request to see income stretching back around three years. However, that’s not always possible. largemortgageloans.com is often approached with cases such as these that can be complex to place. One recent example of this is listed below.

Case profile

Despite being new entrepreneurs, our clients were looking to secure 70% LTV on over £900,000 in order to purchase their new home. The couple had launched their own business less then a year ago and therefore had no accounts to prove yet.

Solution

Associate Director Dan Gracie approached a specialist lender, with who we have an excellent relationship with, and provided them with the clients CV, management accounts, accountants reference and company bank statements in order for the lender to take a sensible approach to financing.

The lender was happy with the proof provided and agreed to lend the clients their desired loan amount.

Your home or property may be repossessed if you do not keep up 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