Case Study –New Residential Purchase | Quick Completion Deadline

Value	£1,700,000
Loan	£1,100,000
LTV	65%
Achieved Rate	2.29% (over base)
Term	2-year tracker

The Client

Our client had an offer accepted on a property worth £1.7m, and required a loan of £1.1m. Having sold their family home and currently living in short-term rental accommodation, they had a tight deadline to complete on the purchase of the property. However, as a large portion of the client’s bonus was paid in stock, which is excluded by retail banks, this impacted his affordability.

The Solution

We approached a private bank that was willing to take a holistic view of the client’s current and future income, as well as existing assets, allowing us to secure a loan for our client within 21 days of submission, at the full amount required, on an interest-only basis.

The Henry Dannell Difference

Our client was concerned that the breakdown of his income would prevent him from obtaining the loan amount required to purchase his new home. It was important to him that we were able to find a suitable solution that meant he did not need to increase his deposit or consider an alternative property. We were able to find a lender who would consider his full remuneration package, including the stock element, allowing our client to proceed with his purchase.