In a post-Help to Buy world, affordability has become a challenge for Mortgage Advisers to overcome in matching customers with their dream homes.
With lending caps in place at 4,4.5 or 5x income, we often find that potential customers are unable to obtain the borrowing they need and we need to think outside of the box.
Thankfully, there are ways we can work around this. We can look at repaying credit commitments, using specific lenders or adding family members or friends to the mortgage application and proceeding on a Joint Borrower Sole Proprietor basis.
Give us a call to discuss this in more detail: we specialise in structuring deals in the new build market.