No lender fee & £500 cash back for first time buyer

The client: A full time nanny living with her employers. We recently worked with her to refinance her commercial investment property. Now she wanted us to help her get a mortgage to buy her first home.

The property: Not far from her current workplace/home, she had found a two-bed terraced house, perfectly placed between her work and local amenities.

The finance: To cover the finance costs and support her deposit, the client was looking to borrow 67% loan to value. In particular, she needed a lender which allows deposits sourced from the refinance of commercial premises.

The application process: Having already worked with the client recently, we had all the information needed to submit the application without delay. However, lots of lenders will not consider applicants from employees who live with their employer, so we ran this past the underwriters first before submitting the case.

In particular, the client was keen to get a mortgage product without fees and the potential to make overpayments. No only did we find a lender to meet all of these requirements, they also offered £500 cash back!

The entire case completed within three weeks and our client is now enjoying her new home.