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Case profile

We were approached by a client who was on an annual contract that ended in 2018. Upon finishing, the decision was made to take a year off and spend some much-needed time with family having saved enough funds to do so.

Returning to a new contract in late 2019, the client now wanted to secure a mortgage however there were a few complex factors that required greater consideration. Firstly, the client worked in Eastern Europe and was therefore paid in Euros. Secondly, it was a new contract and subsequently the client didn’t have the required two years average income to prove. They had previously had their income paid into their personal account but ran this new contract through their LTD Co. As such there were no historic accounts to support a lend based on the profit of the LTD Co.

Solution

To overcome this, Associate Director Paul Fredericks approached the lender and showed them 5 years worth of contracts and income. With this information they used a common sense approach and agreed to lend 65% LTV.

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

Changes in the exchange rate may increase the sterling equivalent of your debt.

The FCA does not regulate some aspects of business finance. 

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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 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.