a-mortgage-solution-for-a-couple-purchasing-and-renovating-a-new-home-header-greem-landscape-with-a-road-in-the-middle

A mortgage solution for a couple purchasing and renovating a new home

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Our client’s wishes

A UK-based couple were introduced to us by one of our trusted mortgage brokers after having an offer accepted on a new home. They were looking for a mortgage that would support their plans to settle for the long-term.

Excited to make the property their family home, they had ambitious plans to invest around £800,000 in high-quality upgrades and extensions to improve the existing space, with no major building work needed.

To help fund the purchase, the couple decided to keep their current home and rent it out. By switching to a buy-to-let mortgage on that property, they could release funds to put towards the new one. They also planned to take out a separate mortgage on the new home to complete the purchase.

Our clients’ situation

The couple intended to pay for the renovations themselves and expected the value of the property to rise to around £1.5 million once the work was complete. The house was already in good condition, so they planned to move in as soon as the upgrades were finished.

While their income didn’t quite meet the usual requirements for covering both mortgages, they had other financial resources that allowed us to build a solution around their goals. With a clear plan and timeline in place, they aimed to complete the renovations within 9–12 months and sell their current home shortly after.

Because the new property would be their main residence and where they planned to raise a family, they preferred a straightforward mortgage that would support their long-term future.

A UK-based couple were introduced to us by one of our trusted mortgage brokers after having an offer accepted on a new home.

Our clients’ outcome

The couple intended to pay for the renovations themselves and expected the value of the property to rise to around £1.5 million once the work was complete. The house was already in good condition, so they planned to move in as soon as the upgrades were finished.

While their income didn’t quite meet the usual requirements for covering both mortgages, they had other financial resources that allowed us to build a solution around their goals. With a clear plan and timeline in place, they aimed to complete the renovations within 9–12 months and sell their current home shortly after.

Because the new property would be their main residence and where they planned to raise a family, they preferred a straightforward mortgage that would support their long-term future.

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Email our credit specialists directly at [email protected] or call +44 (0)1624 645000 to speak to our client services team.

Any examples of investments and structures used are for illustrative purposes only. This case study does not constitute an invitation or inducement to buy any financial investment or service. None of the content constitutes advice or a personal recommendation. Individuals should seek professional advice, based on their jurisdiction and personal circumstances, before making any financial decision.

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