The client was a large portfolio landlord, with more than 100 properties that were held in a mixture of personal name and Ltd Co ownership. His main job was a large-scale property developer and the majority of his income was held in director’s loans, retained profits etc.
The client’s actual tax returns showed that he had drawn an average income of around £80k average over last two years, but he was looking for a mortgage of £2m on a property of £3.5m for his main residence.
Despite this, and the complexity of the client’s income streams, we were able to secure a mortgage with a private bank on a 5-year fixed rate of 2.74%.
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