Having their cake....& eating it

With a growing young family the clients wanted to move for additional space whilst staying in the same area of London. Having found the right property for their needs they were keen to secure it before the opportunity was lost, selling their existing home separately once the purchase was complete.

The current home was valued at £2.3m, with the purchase price of the new larger property agreed at just under £3m. 

Whilst both applicants worked as city barristers, one partner was just returning to work after an extended period of maternity leave. Both earned significant six figure salaries as salaried members of LLPs.

Despite an extended period of maternity leave, it was clear the applicant had a history of earning at a high-income level and the combined incomes plus bonus met affordability requirements.