The situation
Our client, who works in the NHS across two roles, was looking to purchase the property she was currently renting from her landlord.
She was applying in her sole name, with a gifted deposit from her partner and friends. As these were non-family contributions, this was classified as a third-party gift – something only a limited number of lenders will accept.
The challenge
This case presented several layers of complexity:
• The client had two NHS roles, both with regular overtime, which not all lenders would fully consider
• The deposit was being provided by non-family members, which is restricted by many lenders
• The client had some historic credit considerations to take into account
• Her partner, who would be living in the property and contributing to the purchase, could not be included on the mortgage due to their own adverse credit profile
• Some lenders required the partner to be named on the application due to their connection to the borrower and contribution to the deposit
• Previous applications had been declined by a number of high street and specialist lenders
As a result, lender criteria and flexibility were absolutely critical to making the case work.
The solution
We carefully identified a lender able to take a more pragmatic approach to the client’s circumstances. This included a provider willing to:
• Accept a third-party gifted deposit from non-family members
• Consider the application in the client’s sole name, despite the partner’s involvement
• Use 100% of income from both roles, including overtime
• Take a balanced view of historic adverse credit
By presenting the case clearly and focusing on the overall affordability and stability of the client’s income, we were able to align the application with the right lender’s criteria.
The outcome
The case was successfully agreed with a high street lender, offering a competitive product at 90% loan to value. The client was able to purchase her home from the landlord and was delighted to secure a high street solution, having expected that only specialist adverse lenders would be an option.
This provided a cost-effective outcome and enabled her to move forward with confidence in a home she already knew and loved.
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