The Intermediary – July 2025 - Flipbook - Page 62
B RO K E R B U S I N E S S
Case clinic
team will help prospective borrowers ensure they
have explored all of their options. If a customer
has recently returned from living abroad, and they
held a UK bank account while they were overseas,
we often find these customers will be acceptable.
Those that don’t will naturally find their options
are more limited, but again, speaking to a broker
can help you understand your options. It is always
worth completing a Decision in Principle (DIP)
as with the soft footprint on credit bureaus it
allows you to understand whether the customer
can qualify for a mortgage. Santander accepts
applications from customers in all contractual
roles. We will also welcome applications from
customers who have secured a permanent role but
are still in their probationary period.
WEST ONE LOANS
We can provide mortgages to applicants in
their probationary period. However, while the
applicants comfortably clear the affordability
criteria (based on previous income), we require
12 months of residence in the UK along with
two months’ payslips and an active credit file
to consider the loan. Had they been in the UK
for a year, we would likely help the applicants
if they returned after completing two months’
employment and their new salaries meet
affordability thresholds.
SUFFOLK BS
We’d welcome this application, but we’d need
them to have started their new job, and to see a
payslip prior to the offer being issued. The lack of
a UK credit and footprint wouldn’t be an issue for
us as we’re used to lending to expats. We would,
however, need them to have a UK bank account for
mortgage payments. Any applicable probationary
period would be fine with us, if they’re in the same
line of work.
assess affordability using confirmed future income.
If they are continuing in the same line of work,
probationary periods may be disregarded.
TOGETHER
Together could support these applicants if they
confirm they now reside in the UK, though they
will need to have had continuous employment
for 12 months and proof of job contracts with the
first payslip provided. The probationary period will
not be an issue, and if they can set up a UK bank
account before the completion of the loan this
can allow an active loan with us to pay the direct
debit payments. Subject to satisfactory checks
from their previous country of residence that their
credit was in good standing, Together could look to
support with a mortgage of up to 75% LTV.
C AS E FOU R
Single applicant with
heavy student loan
deduction
28-year-old teacher earning £36,000
per year is looking to take out a
mortgage on a £185,000 flat at 90%
LTV. Despite having no credit issues and a stable
job, affordability calculations are tight due to
large monthly student loan deductions and
pension contributions.
This has drastically reduced the maximum
borrowing potential for some lenders, leaving
the applicant frustrated at the gap between what
they thought they could borrow and what was
actually offered.
A
BUCKINGHAMSHIRE BS
WEST ONE LOANS
The society can consider this, but LTV would be
restricted to 70% if they have not been back for
three years. We would need to understand the
new jobs that they have secured, if it is the same
industry that they were working in while overseas,
and if there is any probation. A CV history from the
applicants would also be requested.
The loan meets our affordability criteria, and based
on credit profile, the applicant will be eligible
for our Premier 90% LTV product. However, we
will have to assess affordability based on actual
monthly expenses and loan repayments to provide
a clearer answer as to whether or not we could
assist in this case.
STAFFORD BS
SUFFOLK BS
For returning expats like this, we don’t rely on
credit scoring, so a limited UK credit footprint
would not be a barrier. We would need to see
copies of their UK employment contracts, and can
Based on the information provided we’d be able
to consider lending 4.49-times income, and
while we’d have to deduct the student loan, we
ignore pension contributions. It would really be
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The Intermediary | July 2025
