Case Study –Residential Purchase | Affordability Calculated on Projected Income

Property Value £2,200,000
Loan Amount £1,650,000
Location West London
LTV 75%
Achieved Rate 4.67%
Completed April 2023
Adviser Courtney Flockhart

The Client

In early 2022, our clients had identified a property for purchase; however, this transaction fell through, and in late 2022, amid the market destabilisation, their interest rate surged by over 2% from the original secured rate. The elevated standard variable rates, coupled with lenders’ tightening criteria, had significantly impacted affordability, turning a previously straightforward deal into a more intricate one. Moreover, the clients were acquiring a property for which probate had been granted, and the beneficiaries required a prompt exchange to finalise the purchase.

happy couple hugging in new home