When it comes to high-value lending, flexibility, expertise, and a willingness to see beyond the numbers can make all the difference. This was clearly demonstrated in a recent case handled by our Intermediaries Team, where an applicant sought a substantial loan of £976,000 to remortgage a £2 million holiday let property.
On the surface, the case posed challenges, but rather than turning it away based on a narrow view of affordability, we decided to take a more holistic and human approach. By engaging directly with the broker and taking the time to understand the applicant’s broader financial position, we sought to tailor a lending solution that worked for everyone involved.
This case study showcases how our common-sense approach, combined with open communication and manual underwriting, enabled us to deliver a lending solution that ultimately helped the applicant remortgage their £2 million holiday let property.
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Our Intermediaries Team were approached with a case where an applicant was looking to place a high-value loan of £976,000 on a £2m holiday let property.
As the applicant’s income was slightly below the required £20k, the broker called us to query whether the case could still go ahead.
Instead of dismissing the case based on the initial information we’d received, we decided to look into the bigger picture of the case and see how we could deliver a solution that benefited all parties.
Buy to Let lending criteria is not a one-size-fits-all process and providing a mortgage is not a tick box exercise. Recognising this, we took a more common-sense approach to this case with the added benefit of a human touch.
Our first step to finding a solution was to liaise with the broker. Instead of relying on endless back-and-forth emails, we spoke directly with the broker over the phone to understand the full picture of the case.
Through regular open conversations between the broker, our BDM and Underwriter, we managed to capture the necessary information needed to support the applicant’s strong financial position. As part of this additional background information provided by the broker, we discovered the applicant had proof of investments, savings and SIPP accounts, making them more than eligible for a high-value loan.
Digging deeper into the case showed that the property the applicant was looking to remortgage was a long-standing self-supporting holiday let. The case made sense to us, and we were happy to honour the high-value loan.
Even though the initial information we received didn’t tick all the boxes for a mortgage, we managed to help the applicant secure a £976,000 loan on their dream £2m holiday let property.
Our Intermediaries Team achieved this solution for the broker and applicant by taking a common-sense approach to lending. Our value-added human touch was crucial to the success of this case. The open conversations between our team and the broker and the value of manual underwriting ensured an outcome that met the needs of the client.
We specialise in these types of high-value loan cases. Below is a breakdown of the value clients receive from our Intermediary solutions on holiday lets:
"This case is a great example of what sets us apart in the high-value lending space. By taking a common-sense approach and working closely with the broker, we were able to look beyond standard criteria and recognise the applicant’s strong financial position. Our ability to adapt, communicate openly, and apply manual underwriting meant we could deliver a tailored solution that helped the client secure their £2 million dream property. That’s the power of lending with a human touch."
If you need support with a case or want to learn more about our products and lending criteria, get in touch with our Intermediary Team today to see how we can help.
Monday - Friday 9am - 5pm
You can also contact us at intermediary.mortgages@leekbs.co.uk
Monday - Friday 9am - 5pm
You can also contact us at mortgage.processing@leekbs.co.uk
