A successful business with an affordability issue

Handelsbanken intermediaries

Case study

Situation:

The broker’s clients were business owners, with a complicated income structure, who were looking to remortgage their family home at £1m, and deal with a provider who had more of a relationship approach.

Challenge:

As owners of a successful business the clients were not taking all the income earned from the business, which made affordability look unclear.

Solution:

The broker knew our relationship approach and the rate we could offer, would mean a great outcome for their client. Working together we were able to gain a deeper understanding of how well the clients’ business was doing and how that translated into their financial accounts. Evidence from the clients’ accountant confirmed that a higher income could be taken to afford a SVR. We were able to offer a 5 year-fixed mortgage over a 20 year term.

A word from the broker

“I've known Handelsbanken and many of its staff for a number of years, so when my clients required a proactive approach to funding, I knew the team at Handelsbanken would be a great fit. From the outset it was clear the clients’ income structure was complicated, however both broker and lender worked together closely with the clients to get a real understanding of their situation to reach a the right solution. With improved processes and rates, Handelsbanken were great to work with and we ensured the client completed the funding before their expensive SVR started”

Russell Hall, SPF