Need To Know
- Got a complex case? Give us a call
Lending criteria - complex mortgages from TFI
Have you got a complex client case?
We lend to those with timing issues, with unusual income, buying atypical properties, whose age makes them 'non-standard' and those who want to buy with family where there are complex needs.
The team at TFI are ready to help you find the right mortgage solution - more detail on our complex specialisms is below.
- Loans of up to £1.5m (potential exceptions with credit committee approval)
- Mortgages up to 80% LTV
- Interest only lending available up to 70% LTV
- Mortgages for up to 6 times income (where evidenced earnings exceed £200k per annum)
- Bonus acceptance = 75% (for financial services professionals 60% for other professionals)
- Ability to evaluate a range of financial assets for income, monetising wealth for affordability
- No assets under management (AUM) requirements
- Options for borrowing jointly with family where there are complex needs
Do you have clients who want to:
- Break a property chain?
- Secure their dream home in a competitive market?
- Ensure the sale of their former home isn't rushed?
- Provide time to update old/new/both properties?
- Simply create time to move at their own pace?
TFI short term mortgages offer an alternative to bridging finance, flexible to a range of needs.
Highlights include:
- ERC free lending
- Lending terms of 2-5 years
- Max 80% LTV (max 70% LTV for interest only)
- Part interest only/part capital repayment options available
- Have you seen clients who are asset rich but traditional income poor?
- Do their assets include a mixture of cash, investments, trusts, pensions or net profit in their business?
- Does their income appear low relative to their borrowing needs?
- Do they already own a valuable property or properties?
If the answer is YES we can create outcomes from incomes
We can:
- Evaluate other financial assets for income, monetising their wealth for affordability
- Boost income using a potential drawdown from managed investments/pensions (potential to draw remains in applicants control)
- Lend up to £2m, maximum 80% LTV (or 70% LTV interest only)
- Lend up to six times income where evidenced earnings exceed £200k p.a.
- Accept up to 75% of bonus income
All with NO Assets Under Management (AUM) requirements.
We can help your clients who want to buy an unusual property, for example:
- Residential properties that come with an annexe (used by family or as a holiday let)
- Residential properties that come with two (max) self contained holiday cottages in the grounds
- Town houses with basement flats sold separately/ on a long lease
- Conversions of two separate dwellings into a single home (one title deed at completion)
- Re-mortgages of converted properties (barn, school house, chapel)
- Country retreat including one or more of grounds/ woodland/ stables/ paddocks/ up to two holiday cottages (excludes agricultural ties, livestock or commercial use)
- Second homes
- City base
- Holiday homes
Lending highlights on atypical properties include:
- Max 80% LTV, Max 70% LTV for interest only, max 75% LTV for second homes
- Income from a variety of sources considered, including investments and pensions
- Analysis of site to determine proportion which is purely residential