The Mortgage Lender ignoring private school fees and using retained profits

by Aaron Strutt

Apr 01 2023

Trinity Financial has access to a broker-only lender ignoring private school fees for mortgage affordability purposes often for the self-employed and limited company directors.

The Mortgage Lender can accept applications from clients with complex incomes, use accountant certificates, and take profit before corporation tax plus salary as income for limited company directors. It can also use salary, dividends, and retained profits for limited companies without averaging the figures.

Aaron Strutt, product director at Trinity Financial, says: "Most lenders do not ignore private school fees for affordability purposes, but The Mortgage Lender has a more lenient policy. For quite some time the lender has taken the view that private school fees can be stopped if clients have cash flow issues, and private schools may be more willing to help parents with financial problems."

What is the catch? 

The lender charges more expensive rates than most high-street lenders, so many borrowers are put off by the thought of paying more. It does depend on how much borrowers want the property! 

The Mortgage Lender offers a range of prime and adverse credit mortgages, with rates starting at around 5.7%. They have two and five fixed rates, and applicants will need a deposit of at least 15% to qualify. The maximum loan size is £1.25 million. 

The Mortgage Lender launched in 2016. It was set up to provide alternative purchase and remortgage options to traditional high-street lenders.

Call Trinity Financial on 020 7016 0790 to secure a private school fees mortgage, book a consultation, or complete our mortgage questionnaire. 

The information contained within was correct at the time of publication but is subject to change.

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