Newly qualified Barrister achieves 90% LTV on first property

Newly qualified Barrister achieves 90% LTV on first property

Article by Daniel Everritt Mortgage Adviser

What was the situation?

I was approached by a Barrister client who had been referred to me by their work colleague at the same chambers. They were looking to purchase their first home in a thriving area of North London. The property was priced at over £700,000 and the client required a loan of 90% loan to value (LTV) in order to successfully make the purchase.

What was the issue?

For this application, some lenders needed a greater deposit because the client was recently qualified. This meant that they weren’t able to provide immediate evidence of earning potential and affordability. It was therefore important for me to find a lender who understood barristers income profiles, and would use their most recent years figures to leverage 5 times the clients salary to achieve the 90% LTV.

What was the process?

Using my long standing relationships with lender contacts, I was able to speak with dedicated lender underwriting teams to get a feeling for their appetite on this type of application.

Due to the profession of the client and size of loan required, it was important to speak to the right lenders who saw the earning potential of my client long term.

What was the solution?

To the delight of my client we were able to secure the mortgage and therefore their new home. Our established relationship with one particular lender allowed me to work directly with the underwriters to arrange a fixed loan term, at just over 3% – market leading for the time.

The client was very happy with how smooth the application process had been, and was over the moon with my service and the product arranged. They were very pleased they contacted me after being given my name from a work colleague!

Lending solutions with LDN Finance

Are you a first time buyer in need of a mortgage, but have a complex application that you would like some advice about? We’re here to help you find a solution – no matter how complex your circumstances. At LDN Finance, our expert 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.

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Our happy clients

Excellent and outstanding professional service from start to finish. From offering as many options as possible, to explaining to me very quickly what the benefits are and what I should really be thinking about moving forward. Thoroughly recommend.

Mr. M

July 2021

5 Stars! The LDN team supported us purchasing our family home, without their support and as an expat it would have been very difficult to obtain our new home in the UK. I would totally recommended them.

Mr. S

August 2021

Johnny Martin held our hands through the entire process calmly and professionally. Brilliant service, efficient and swift in response to everything. He made the entire journey uncomplicated even when the bank made it complicated. Highly recommended.

Mr. H

July 2021

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