Case Studies – New World Finance

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Case Studies – New World Finance

Case Studies

Here are some recent case studies handled by New World Finance:

Case 1

First time landlord buying in LTD name, owns a residential. Income ok for FTL product and putting in own deposit. Exception made as plan is to purchase 3x by end of 2021.

Outcome: Rate 3.44%. LTV 75%.

Case 2

Personal name, higher rate tax payer, rent being charged under market value as loyal tenant. Lender used surveyors market rent as per valuation report.

Outcome: Rate 3.64%.

Case 3

Chinese national, no residential, had 2x BTLs but little letting experience. High street declined due to nationality and because the security was purchased below market value.

Outcome: Rate 4.99% deferred 1% per annum 3.99% pay rate.

Case 4

LTD company (father/son). Both are FTL, father owns a residential, had no income but £50k savings. Son had job/income but no Letting experience. But they had a good solid plan.

Outcome: Rate 3.34%

Case 5

High street lender declined due to difference between 90 day and market value. Also, surveyor noted ‘cannot be let for 9-12 months.’ Our chosen lender structured the deal with a 9-month deducted period (interest is retained for 9 months) client doesn’t make first payment until month 10. Client had a good story, income, numerous assets.

Outcome: Rate 4.99%. LTV 60%.

Case 6

Client had various adverse in last 12 months, including 2 down 13 months ago on a BTL mmortgage. Client had also a trading company with various adverse. Low value property. Most lenders said no. Client had a strong solid story for adverse. Our chosen lender asked lots of questions but ultimately approved the deal.

Outcome: Rate 5.24%.

Important Notice

Your house may be repossessed if you do not keep up repayments on your mortgage.

REGULATED BY THE FCA

New World Finance is authorized and regulated by the FCA. FRN 702612. You may check our registration at https://register.fca.org.uk/s/. We are a credit broker, not a lender. We may receive a commission from lenders, this commission varies between lenders.

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