How Kent Reliance for Intermediaries helped footballer score dream home

This article was provided by Kent Reliance for Intermediaries

With approximately 4.27 million people^[1] now classed as self-employed in the UK, complex incomes are no longer uncommon and specialist lenders with experienced BDMs are needed to help strike up those important conversations. 

It’s the expertise of specialist lenders working closely with brokers who know the case inside out to look beyond what’s sometimes written in black and white. Conversations are paramount to foreseeing possible challenges and could help to overcome hurdles where complex income streams need to be considered and other avenues explored.

An example of this is a recent residential case we completed for a professional footballer customer for £450,000.

They had been with their current club for three years - however, their current contract was due to expire in only 18 months. The customer, looking for a maximum 25-year mortgage had been turned down from other lenders over concerns about their age in relation to the mortgage term, the sustainability of their income and it was debatable if the property was classed as being in a liveable condition. This was despite the customer having £700,000 in liquid savings available, after the deposit and refurbishment costs had been paid. The deal was accepted on an interest only basis over a 23-year term at 85% LTV. The broker had indicated that other lenders were looking to cap interest at 50-65% LTV.

This is where looking beyond the case application and picking up the phone can make a pivotal difference as after talking to the football club’s HR director who confirmed that the player, a talisman of the team, would be offered a coaching job at the end of their current contract, the underwriting team were happy to approve the application.

At Kent Reliance for Intermediaries, we’re prepared to dig that little bit deeper to find the details that could provide the yes you need. We’re aware a conversation can sometimes make all the difference and that’s why we’d always encourage brokers to get in touch with us.

So, let’s talk

Our flexible residential solutions can support a wide range of clients. Whether they’re a newly qualified doctor taking their first steps in the medical profession or a sole trading electrician with years of experience under their belt, our manual underwriters consider every income type on its own merits.

If a case has got you scratching your head or it doesn’t quite fit our standard criteria then speak to your office or field BDM. They’re here to get the conversation started.