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Key features:

  • Limited company director with £10,000 loss followed by £500,000 profit
  • 1.64% five-year fix with 25% deposit
  • Mortgage agreed by policy exception

The client:

He owned a manufacturing company and over the last two years invested heavily in the business resulting in £10,000 loss followed by a £500,000 profit. He had a letter from his accountant explaining how there was such a large increase in his profits.

What was he looking for?

He wanted to purchase a £1.4 million property and secure a £1 million mortgage. He wanted a capital repayment deal over a longer term to minimise his monthly repayments.

Why was it difficult?

Most of the mortgage lenders will not accept applications from limited company directors when they have a significant rise in their profits. Also, our client had five buy-to-let properties in his portfolio.

How did we help?

Trinity’s broker approached the large loan lending team at a bank offering one of the most competitively priced five-year fixed rates.

After we explained why the client had operating losses followed by a significant profit, and that it was backed up by the accountant, the bank accepted the case. They also made a policy exception as the client had five properties in the background, rather than the bank’s maximum limit of four.

What was the rate?

We secured a 75% loan-to-value mortgage on the property on a five-year fixed rate of 1.64% with a 3.4% APRC. There was a £999 arrangement fee and a free property valuation. The mortgage reverted onto the lenders 4.19% standard variable rate.

The offer was produced within a week.

Call Trinity Financial on 020 7016 0790 to secure a limited company director mortgage

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