What was the situation?
Our clients, a married couple, approached LDN Finance to arrange the mortgage on their next family home. The primary earner was a newly qualified barrister.
Their existing property was valued at £400,000, with a £350,000 mortgage in place. They had identified a home in Kent valued at £1,200,000, representing a significant step up from their existing property.
What was the issue?
The clients required borrowing of £1,080,000, representing 90% loan-to-value (LTV) against the purchase. At £1.08m, lender appetite for 90% LTV narrows considerably, particularly where the income profile sits outside conventional employed structures.
As a newly qualified barrister operating on a self-employed basis, the client’s historic submitted income did not yet reflect the pace at which practice earnings were building. For barristers in the early years of practice, filed figures can materially lag current income generation.
What was the process?
Martin Ball, Mortgage Adviser – LDN Private Clients, brought extensive experience advising barristers and detailed knowledge of how their income is assessed.
The case turned on two factors: presenting projected practice income in a form a lender would underwrite at high LTV, and selecting a lender whose assessment approach accommodated barrister earnings at this stage of practice. LDN Finance holds access to a stretched-LTV arrangement for cases of this profile, a route available only to a limited group of broker partners and not generally accessible across the wider intermediary market.
Income was evidenced through the senior clerk’s letter and the client’s most recent submitted figures, structured to demonstrate the trajectory of practice earnings rather than the lag of filed accounts.
Martin engaged directly with senior underwriters and the lender’s large loans team, positioning the case around the client’s professional trajectory, current earnings position and overall strength of profile. Lending of £1,080,000 was supported at 90% LTV.
What was the solution?
Our clients completed their purchase with a £1,080,000 repayment mortgage, secured on highly competitive terms. No additional deposit was required, despite the borrowing level involved, and the original purchase strategy was preserved in full.
This outcome reflects Martin’s precision in presenting practice earnings on a profile that would have fallen outside most lenders’ criteria, alongside LDN Finance’s close working relationships with senior underwriters and access to lending arrangements not generally available across the wider broker market.
As Official Service Partner to the
Bar Council, LDN Finance advises barristers across every stage of practice, from newly qualified through to KC, including cases where historic figures alone do not yet reflect the strength of practice income.
High-value lending solutions with LDN Finance
Are you looking to purchase a new property but have a complex income structure? We’re here to help you find a solution – no matter how complex your circumstances. At LDN Finance, our specialist brokers have extensive experience in providing creative solutions to secure large loans for our clients.
We work closely with our trusted network of private banks and both high street and specialist lenders to arrange bespoke mortgage arrangements to suit your circumstances at competitive, market-leading rates.
Get in touch with us to organise an initial consultation.
