A young first-time buyer with a robust and sustainable income was attempting to purchase a New Build property. However, due to their age, the applicant had a thin credit profile and hadn't yet established a deep credit score. The thin file triggered automated rejections across automated high-street scoring systems. Crucially, the applicant had a pristine repayment history with zero adverse credit or missed payments.
Instead of relying on automated algorithms, the case was routed to Leek Building Society’s dedicated underwriting team for manual assessment. We took a human approach to evaluate the true risk and affordability:
Variable income flexibility: The client’s income structure relied heavily on overtime and shift allowances. Our underwriters manually assessed the applicant's full financial profile to determine affordability.
Deposit & incentive structuring: The applicant applied for a 95% LTV product, putting down a 5% personal cash deposit, supplemented by a £3,000 builder incentive deposit. Our team seamlessly integrated this developer incentive to fit our New Build criteria.
Backed by a high-quality, fully packaged application submitted by the broker, our team delivered a swift service:
2 February: Fully packaged application received
5 February: Application fully assessed and underwritten
18 February: Valuation report received and mortgage offer issued same day, ensuring the buyer met the developer's New Build exchange timeline.
Great service levels, competitive rates, and no credit scoring suited the client’s situation well - thank you Leek!"
Contact us by phone or email using the details shown below.
Monday to Friday 9am - 5pm
You can also contact us at IntermediaryMortgages@leekbs.co.uk
Monday to Friday 9am - 5pm
Contact us at MortgageProcessing@leekbs.co.uk
