May 09, 2017
Mr A earned £100,000 per annum and was looking for a mortgage of £480,000. He had one rental property, which was making a profit of £750 per month.
- One lender would only agree a mortgage of £115,000
- However, another was prepared to lend £480,000
The difference here was that first lender applied a certain calculation to the clients rental property, which greatly affected his affordability. Lender two simply ignored the let property.