£550,000 mortgage for couple buying 17-acre farm and splitting title to let outbuildings

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What was the situation?

Our clients contacted Trinity Financial to speak to a specialist broker about buying a farmhouse with 17 acres, stables and outbuildings. They wanted to let some of the outbuildings and split the property title upon completion to generate extra income.

They required a £550,000 mortgage to purchase the £850,000 property and had separate cash to buy one of the outbuildings through a limited company. They wanted to find a flexible lender that would provide a residential mortgage and allow them to separate the title upon completion.

What was the issue?

Many lenders cap the number of acres a property can have, but they are also not keen on large outbuildings or when the title will be split.

The highest-income earner on the application worked as a professional in the finance sector and received income from multiple companies. However, he did not draw dividends, meaning he retained profits. 

What was the process?

After sending over a link to the property they were buying and fully understanding their financial situation, we approached several lenders to find the one offering the most competitive rates and terms.  

What was the solution?

After our client submitted all the necessary forms and the application was sent to the most suitable bank, a mortgage offer for £550,000 was issued within two weeks on full capital repayment over a 25-year term. 

The lender was keen to attract self-employed borrowers and allowed 10% overpayments each year without charge. 

Lending solutions with Trinity Financial

Are you looking to buy a property with land and require expert advice? We’re here to help you find a solution – no matter how complex your circumstances. At Trinity Financial, our expert brokers have extensive experience providing creative solutions to secure mortgages for our clients.

We work closely with our trusted network of private banks and high street and specialist lenders to arrange bespoke mortgages to suit your circumstances. 

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

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

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage  

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