Mr & Mrs B
Joint Property Purchase
Mr & Mrs B contacted us as they wanted to buy a property jointly with their daughter who was relocating to the area.
The clients need was for an 80% mortgage but were restricted due to the applicants age, Mrs is 58, and both applicants had adverse credit history. Unfortunately a few years ago the clients got into financial difficulties and ended up having to enter a debt management plan and had defaults registered against them.
The clients had approached other brokers but were told this would not be possible, however, after extensive research we were happy to be able to let the applicants know that we could help them.
Homeline Mortgages were able to place the clients with a well-known high street lender who were willing to ignore the applicants’ age restrictions and were happy to take into account the applicants adverse credit history, letting them purchase the property they wanted at the price they wanted.
On the back of this, we are now helping the people that are purchasing the above clients property to get their own mortgage.
Mr & Mrs M
Buy to Let Case
Mr & Mrs M contacted us when they needed to review their current seven buy to let mortgages.
The clients were looking to re-mortgage all of their buy to let properties within their portfolio. This included a block of six flats (of which five were buy to lets and the clients own residential property), a house let out to students (classed as a HMO), and a flat with a short lease.
The reason for the re-mortgages was so that the clients could raise funds in order to clear their own residential mortgage, extend a lease and increase their savings fund.
The clients current mortgages were coming to the end of their terms and the existing lenders were unable to assist them again due to the clients being aged 69 and 75.
At this point in time, the clients did not wish to sell the properties as they were providing them with a good rental return. The ideal requirement for the clients was to extend their BTL mortgage terms for a further 10 years. After that time they planned to pass some properties over to their children and sell the rest.
Regardless of the fact that these were very difficult mortgages to place as the majority of lenders would not consider lending due to it being deemed as a high risk lending, Homeline Mortgages managed to agree mortgages on all seven properties enabling the clients to proceed with their plans for the future.
Mr & Mrs K
Purchasing Closer To Workplace
Mr & Mrs K contacted us as they wanted to move home in order to be closer to their place of work.
Their need was for a small mortgage which would be a low loan to value purchase however the mortgage was proving difficult to place on a joint applicant basis due to Mr K being 66 years old and the fact they wanted as long a term as possible (preferably a 19 years) to maintain lower mortgage repayments.
The clients had been told that this would not be possible, however, Homeline carried out intensive research, which then allowed us to recommend the National Counties Building Society who were able to provide the required mortgage over the term requested and at a very competitive 5 year fixed rate of 3.39%
The clients were delighted as they had achieved what they had set out to do even when many others had told them it was not possible.
Mrs K said “We turned to Homeline as a friend told us they were able to succeed where others were not, and they worked so hard to help us and they actually got us everything we wanted and we ended up on a better rate than we were on already on our current mortgage. I would have no hesitation in recommending them to anyone!”