Joint borrower, Sole proprietor
What was the situation?
Following a divorce, the client wanted to remortgage her property in order to release her husband from the title deeds and remain in the property with her children.
What was difficult about this case?
The client’s income was insufficient to support the loan required in her own right.
What was the process?
We carried out a full fact find exploring the personal financial situation of both the client and her immediate family members.
What was the solution?
We were able to proceed on a ‘joint borrower, sole proprietor’ basis using both the client’s personal income and that of her sister, in order to demonstrate the necessary affordability to the lender but keep the ownership of the property in the client’s sole name.
What was the solution?
This three-way transaction allowed us to simultaneously release enough funds required for the deposit and stamp duty, whilst applying for the purchase mortgage with a separate lender. In the end, the clients purchased their dream home they had been competing for which was previously out of reach.
Secure your ideal property with the help of LDN Finance
Are you finding barriers in the way to securing your dream home, or another ideal property? Our friendly professionals are on hand to provide hassle-free advice and creative solutions for your mortgage purchase. Get in touch with us today to organise an initial consultation.
Need expert mortgage advice?
We can help.
Get in touch with our expert residential mortgage advisers today to get started on your property finance journey. Whether you’re buying your first home, upsizing for more space or refinancing your property portfolio, our award-winning mortgage brokers have got you covered.
Testimonials
Our happy clients
As a returning customer, I would like to express my sincere thanks to the team for their outstanding support during the completion of my property purchase. In particular, Catherine and Darren have been incredibly helpful throughout the process. Their communication, professionalism, and customer service have been absolutely excellent, making the entire experience smooth and reassuring. Many thanks again for all your hard work.
My fiancée and I were recommended to LDN Finance when we started our mortgage journey, and the service we have received, and continue to receive, has been outstanding throughout. Phil Levesley initially looked after us and made what can be a very daunting process feel straightforward and easy to understand. He took the time to explain everything clearly, never rushed us, and was always happy to answer any questions we had. Nothing ever felt like too much trouble. As part of the process, we also wanted to explore a number of protection policies, and Phil introduced us to his colleague,
Owen was absolutely amazing and supported me every step of the way throughout the mortgage process. He was always clear, patient, and incredibly reassuring, making what could have been a stressful experience feel smooth and manageable. Bharathy was also really helpful, promptly getting in touch and making sure all the relevant information was handled efficiently. I couldn’t be happier with the service and would highly recommend them both. Five stars without hesitation.
Related Case Studies