£750,000 mortgage for director of family care home business and doctor – both classed as professional landlords
Trinity Financial recently arranged a mortgage for a professional couple with four buy-to-let properties. One of the borrowers ran the family care home business and his partner was an NHS doctor.
They had an offer accepted for a £1.5m house in London and wanted to borrow £750,000. They needed to borrow five times their joint incomes and find a lender happy with their properties in the background. They lived in rented accommodation and wanted an interest-only mortgage to lower their monthly costs.
As they had four buy-to-let properties, they were classed as professional landlords.
How did we help?
Trinity’s broker assessed the market to find a lender willing to take income from various sources from buyers classed as professional landlords.
The choice of mainstream lenders was more limited because of the buy-to-let properties in the background and how they are assessed for affordability. However, Trinity’s broker spoke to his contact at one of the largest banks, and they agreed to provide the full £750,000 on a competitively priced five-year fix.
The bank accepted limited company accounts, employed income and buy-to-let rental income. It also provided the mortgage on an interest-only basis using the sale of the property as the repayment vehicle.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
The information contained within this article was correct at the time of publication but is subject to change.
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