Case Studies

Downsizing?
Husband and wife age 72 & 76 looking to downsize. They found a property they wish to purchase but had an offer pulled on the one they are selling. Rather than risking missing out on the house they used a bridging loan to purchase the new property and their exit method was once their home sold.

Current house value £1,000,000 | New House Value £400,000 | LTV 40% | Rate 0.49% | Term 12 Months (Regulated) | No Exit Fee | Completed in 10 working days

Strict timeframe
Women Aged mid 40's in Wales Going through a divorce and had a strict timeframe in which to pay off ex-partner or she would lose the house.

House Value £1,850,000 | Loan Size £1,179,114 | LTV 63% | Rate 0.75% | Term 12 Months (Regulated) | No Exit Fee

Unsatisfied ccj's
Man in his 50's with a couple unsatisfied ccj's totalling £13,000 needed to purchase a new house but was unable to get a mortgage. We used his house as security and was able to satisfy his ccj's as well as raise the amount he needed to purchase a new home before selling his current house.

House Value £500,000 | Loan size £350,000 | LTV 70% | Rate 1% | Term 12 Months (Regulated) | No Exit Fee

FTB employed on a contractual basis?
Applicants were both FTB's, all deposit coming by way of Family Gift. Applicant 1 is employed on a contract basis, which is renewed every 6 months (not guaranteed). Despite the potential 'high risk' of two FTB's and taking into consideration applicant one's employment, Platinum Options were able to get these two a mortgage with an initial rate of 2.95% (3 year discounted rate of 1.50%).

Freehold Flats
Applicants had built a block of flats under freehold. Property was completed 3 months prior to the mortgage application. 4 applicants on the Mortgage. Some Minor Historic adverse and low incomes. We were able to offer a BTL product at 4.85% + 1.7 fee. No exposure limits and freehold blocks accepted.

Low Rental income BTLs with adverse
An experienced landlord was looking to purchase a BTL to add to his portfolio. The applicant had a low income and the rental income on the property to be purchased was low.

Overseas earnings
Brother and sister looking for a remortgage of £150k on a value of £350k on a 25 year term interest only to raise monies on an unencumbered property to purchase another BTL. Mr is self employed working for a charity in Africa with income of £30k and Miss works for a large Company in Australia earning the equivalent of £40k. We were able to place with an Building Society.

Ex Pat
UK national who has been working abroad for the last 5 years returns and wishes to borrow £350k on £650k over 25 years on a repayment mortgage. Had just started work on a professional contract basis and has only received first months income. We were able to place the case with a lender on sight of the contract and first payslip.

Unusual income
Applicant who had recently divorced from her husband was looking to borrow £300k on £600k, 50% LTV, 20 year term on repayment. The only income for the applicant was from maintenance from the husband supported by a brand new Court Order with no track record. We were able to place the case.

Repayment difficulties
Applicant had taken out a regulated bridge to purchase a new property and then had some personal issues which meant he was unable to repay the loan.
He originally borrowed £465k and was 2 months in default. We arranged for a new bridging loan of £536k on a value of £775k, on the condition the property was placed on the market no later than one month after completion.
With us being able to provide a new loan he held onto the property and was able to obtain a far higher sale figure. The original lender would have put the property into an auction to get their money back. Our support gave the client a surplus sum of £189k on the sale of the property.
6 months interest was deducted along with the arrangement fee. The Broker was paid £5,360 proc fee.

Call us on 01992 568815

Our team are waiting to assist you with a solution to your case so call us on 01992 568815. Should you prefer email, contact us at sales@platinumoptions.co.uk

Case Studies

Downsizing?

Husband and wife age 72 & 76 looking to downsize. They found a property they wish to purchase but had an offer pulled on the one they are selling. Rather than risking missing out on the house they used a bridging loan to purchase the new property and their exit method was once their home sold.

Current house value £1,000,000 | New House Value £400,000 | LTV 40% | Rate 0.49% | Term 12 Months (Regulated) | No Exit Fee | Completed in 10 working days

Strict timeframe

Women Aged mid 40's in Wales Going through a divorce and had a strict timeframe in which to pay off ex-partner or she would lose the house.

House Value £1,850,000 | Loan Size £1,179,114 | LTV 63% | Rate 0.75% | Term 12 Months (Regulated) | No Exit Fee
www.platinumoptions.co.uk

Unsatisfied ccj's

Man in his 50's with a couple unsatisfied ccj's totalling £13,000 needed to purchase a new house but was unable to get a mortgage. We used his house as security and was able to satisfy his ccj's as well as raise the amount he needed to purchase a new home before selling his current house.

House Value £500,000 | Loan size £350,000 | LTV 70% | Rate 1% | Term 12 Months (Regulated) | No Exit Fee
www.platinumoptions.co.uk

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