The Intermediary – July 2025 - Flipbook - Page 61
B RO K E R B U S I N E S S
Case clinic
over the previous 12 months. If we are more
than six months into their new tax year, we can
also look to accept a projection of their future
income on referral, provided we have supported
documentation from their accountant or the
company employing them. Although we could
not reach the 90% LTV needed, we could look to
support up to 75%, assuming the property being
purchased is of standard build.
UNITED TRUST BANK
UTB requires the applicant to be working in a
current contract at the time of mortgage offer. We
would look to exercise common sense regarding
gaps of a few weeks in between contracts, as this
is not unusual and we have assessed numerous
previous similar scenarios. We would assess
the feasibility of affordability by assessing a
limited company accountants’ certificate, ideally
with projections provided. In most normal
circumstances we would not look to use retained
profits for affordability.
BUCKINGHAMSHIRE BS
The society would need the application to be
submitted in joint names, the missed payment
would be ignored, but the default would be
included and would place the applicants on the
Credit Restore product range, which still offers
competitive rates. The society does not make a
lending decision based on credit score, it looks
at each individual case on its own merits. An
explanation would be required for the missed
payment and default. The only consideration
would that the LTV would be max 70%.
TOGETHER
These applicants could be accepted on our Prime
range, as we accept up to three demerits in the
past 12 months. On our Prime Plus range it would
be a maximum of one in 36 months, so just outside
the criteria. Although we would be unable to offer
the loan at 90% LTV, we could provide up to 75%
LTV if the property is of standard build. This is of
course on as long as the applicant’s affordability
and valuations are sufficient.
UNITED TRUST BANK
C AS E T WO
Applications for a 90% LTV residential mortgage
require all applicants to have no CCJs or registered
defaults above £300 within the last three years.
Joint application, uneven
credit histories
C AS E T H R E E
couple earning £85,000 combined
(£55,000 and £30,000) is looking to take
out a mortgage on a £290,000 home with
a 10% deposit.
One applicant has an excellent credit score,
while the other had two missed payments on a
mobile phone bill and a £1,200 default registered
nearly two years ago. Lenders offering competitive
rates have been unwilling to proceed due to the
presence of the default on a joint application.
While affordability wasn’t a concern, the couple
are questioning whether to apply in one name,
which would limit borrowing power, or continue to
face restrictions due to the adverse credit on file
for the second applicant.
A
HARPENDEN BS
We have a Credit Repair product, but unfortunately
this would not suit the clients because the
maximum LTV is 70%. Once the default has been
satisfied for three years, they will be eligible to
apply for our standard residential product.
Expats returning
to the UK
British couple returning to the UK after
eight years abroad want to purchase a
£500,000 residential home using a 15%
deposit. Their combined income while overseas
was over £150,000 per year, but they have only
recently secured job offers in the UK.
With no recent UK credit footprint and no
payslips from UK employment, the couple fall
outside many lenders’ criteria. While their
overseas earnings were high, there is concern
about affordability based on future UK salaries and
probation. A lack of active UK bank accounts and
credit records has further limited their options.
A
SANTANDER
Santander assesses all applications on a case-bycase basis, so picking up the phone to one of our →
July 2025 | The Intermediary
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