Three incomes used to secure first-time buyers with 10% deposit mortgage
Trinity Financial recently arranged a mortgage to help three first-time buyers to get on the property ladder.
Our clients were a brother and sister who wanted to buy a house, so they did not have to rent anymore, but they struggled to borrow enough money.
After being unsure what to do, they decided to ask a long term friend to go on the mortgage application to boost their maximum borrowing. He would also be living in the property.
They had found a three-bedroom property they liked and were keen to get the mortgage arranged as quickly as possible.
What did our clients need?
Our clients wanted us to find a lender offering a competitively priced five-year fix and an income multiple of roughly 4.75 times three salaries.
How did we help?
It is still unusual for borrowers to contact us to ask for a three-income mortgage, although we know which lenders to approach when the enquiries do come through.
Trinity’s broker approached a building society with a good reputation for providing 10% deposit three income mortgages. The provider was happy with the applicants and their finances and provided a mortgage offer within three weeks.
Call Trinity Financial on 020 7016 0790 for help to secure a mortgage or book a consultation