Case Study –Self-Employed First-Time Buyer | One Year of Accounts

Property Value	£335,000
Loan Amount	£300,000
Location	Cambridgeshire
LTV	90%
Achieved Rate	4.64% 5-year fixed
Completed	March 2023

The Client

Our clients, both first-time buyers were looking to purchase their first home together in Cambridgeshire. While both applicants were employed, one of them also ran a business alongside their job. Although the business had been operational for two years, it didn’t perform well in the first year due to the pandemic. Unfortunately, their mortgage application did not meet the affordability requirements as most lenders calculate self-employed income over the latest two years.

The Solution

We presented our client’s case to a lender who was willing to assess the mortgage application based on the most recent year’s self-employed income. As a result, the mortgage passed all affordability calculations, and we were able to secure a mortgage offer that met our client’s needs. This allowed them to proceed with the purchase of their first home.

The Henry Dannell Difference

Drawing on our extensive knowledge of the self-employed lending market, we were able to help our client secure their home without any unnecessary delays. We took the time to understand the nuances of our client’s income to present the best possible case to the lender. And it paid off! We were able to secure a mortgage offer for the full loan amount needed to continue with the purchase.