Fast 95 Percent LTV Mortgage for International Solicitor

Our client is a high-earning senior solicitor working for a global firm in London and was looking to sell their flat to buy a house.  

They had already found the property they wanted: a terraced house in East London on the market for £625k. 

They wanted to put a 5% deposit down, so were looking to borrow £593,750 - making this a 95% loan-to-value mortgage. 

Thanks to our client’s high salary (circa £200k pa), this amount was well within their borrowing range. On top of this, their occupation made them highly employable, which lenders like to see in mortgage applications. They had qualifications behind their back and a solid employment history. 

Sounds simple enough... 

The Scenario

Because our client’s borrowing amount tipped over the £500k mark, they were struggling to get accepted.   

Mortgage deals available at 95% loan-to-value are substantially reduced when you go above £500k.  

In fact, there was only one lender available offering 95% LTV mortgages for this borrowing amount.  

So, with the lending pool for our client substantially narrowed down, it was essential that our broker nailed this mortgage application. 

The Solution 

What’s really interesting about this case is that the lender we approached has invested in state-of-the-art technology, which meant our client didn’t have to supply any documentation.   

Their technology automated nearly all of the identity and employment verifications necessary for a mortgage application. 

This not only streamlined the lender’s interactions with our broker team but significantly reduced the time it took to process the mortgage. 

Mortgage applications can take up to six weeks to be approved, usually due to the amount of paperwork that is required to verify a borrower’s identity and earnings.  

But with the help of this advanced software and our broker’s expert understanding of what was required on the client’s end, the application was accepted only 6 days after it was submitted.  

And we secured the terms our clients needed: a 95% LTV mortgage at over £500k, which isn’t easily done – especially at this speed!