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‘Some lenders are too quick to decline good cases’ – Star Letter 01/09/2017

  • 01/09/2017
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‘Some lenders are too quick to decline good cases’ – Star Letter 01/09/2017
Each week Mortgage Solutions and its sister title Specialist Lending Solutions select the most thoughtful or thought-provoking comment to be the week's Star Letter.

This week our Star Letter accolade is awarded to Aly for the response to the post: Why mortgages for lawyers are not an open and shut case.

Aly said: “I couldn’t agree more with your last paragraph.

“I also have a focus on mid-high net worth professionals and private equity partners. I can count on one hand the number of times I’ve had to go ‘off piste’ and secure lending from a private bank.

“Solid relationships with lenders and actually being able to articulate income streams to underwriters, some of whom are too quick to decline good cases, is paramount.

“I recently placed a £2m+ loan with the client’s own bank who had already declined to lend when the client went direct to them, as he had only been an equity partner for one year. This was despite the case fitting on previous PAYE income, which was substantially lower than his partnership income.

“His 20-year plus relationship with them meant nothing.”

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