Loan type: Residential Mortgages | Loan value: £1,361,400 | LTV: 80% | Term: 18 Years
Discover how Aria Finance helped a high-earning couple overcome tight deadlines and complex income challenges to secure their dream home in record time. Read the full case study to see how our tailored solutions and expertise can make the impossible, possible.
The Client:
Our clients were a married couple in their 50s, were high earners who were looking to purchase the house they had been renting for the last 3 years which was valued at £1.7m. They had saved their deposit in a UBS Switzerland AG Investment account.
The Situation:
The seller of the property was looking for a quick sale as they needed to complete within one month due to a tax related deadline. This tight timeframe added urgency to an already complex case.
The wife, a long-standing NHS consultant, had just moved to a new contract leaving lenders requiring more clarity on her income stability. The husband was an investor and in a self-employed partnership, had recently returned to full-time work after semi-retirement, which had seen his income fluctuate significantly - from £640k in 2021 to £207k in 2023, before rebounding in 2024. These factors meant the couple's financial profile required careful navigation to meet lending criteria.
Our Solution:
To secure a mortgage, we worked closely with the husband and his new accountant to finalise and present his most up-to-date income figures for 2024. At the same time, we collaborated with their previous accountants to gather accurate tax overviews from earlier years.
After detailed discussions with a range of lenders, we identified and crafted two tailored solutions:
- Option one was an interest only mortgage with a specialist lender.
- Option two was a part and part mortgage with a high street bank. A part and part mortgage combines interest-only and repayment terms, offering the benefit of reduced monthly payments while maintaining a pathway to reduce the loan principal over time.
Benefits & Results:
The client opted for option two, the part and part mortgage with a high street lender, appreciating the balance of affordability and long-term repayment benefits. Once the client had expressed their preference, we expedited the process, achieving completion within just 12 days of the mortgage offer being issued.
This fast turnaround met the seller's urgent deadline and allowed our clients to transition seamlessly from renters to homeowners, ensuring their long-term security in the home they loved.