Project: Private Client
Broker: Richard Stock
Client Requirement: New home purchase
Loan Amount: £800,000.00
Asset Class: Freehold house
Timings: 9 weeks
The client wanted to borrow £800,000 to purchase a new home, but had difficulty obtaining a mortgage because he received annual income from a betting syndicate.
The client was able to produce legitimate records that showed this income to be consistent over a 10-year period, but because it was untaxed, this type of income was not acceptable for most banks.
At Sirius, we were able to leverage our strong relationships with lenders and find a lender willing to overlook the source of the client’s income and offer a suitable product to fund the purchase of the property.