Case Study –Residential Mortgage | Bank Statements to Evidence Affordability

Value	£1,200,000
Loan Amount	£750,000
Location	Shropshire
LTV	62%
Achieved Rate	3.76%
Completed	December 2022

The Client

Our client, a partner in a law firm, transitioned from one firm to another three months before acceptance of a mortgage offer, with only bank statements as evidence of income at the current firm to demonstrate the monthly draw he received.

The Solution

We successfully identified a lender who adopted the perspective that, given the client's transition from one prestigious law firm to another, it was plausible to anticipate a continuity in income. Relying on this rationale, alongside a supporting letter from the client's new financial director, we effectively reassured the lender that the income would adequately sustain the desired loan amount.

The Henry Dannell Difference

Leveraging our extensive market and industry expertise, we devised a strategic solution for the client's loan. Through effective communication with the underwriting team, we proactively addressed any potential concerns to ensure a smooth application process. This proactive approach instilled confidence, allowing him to confidently proceed with making an offer.