Another of our specialist niches is mortgages based on assets rather than earned income (usually pensions post for later life borrowers and/or investment portfolios for HNW clients).
Given what has happened in the markets, the general feedback from lenders in the sector is that they are still looking to lend, but will take a more conservative approach. For example, one lender advised that they would only look at the fund value today (as opposed to a recent statement) and take 80% of that figure (as opposed to 100%).
In reality, all this does is reduce the term for most clients and not their ability to take the mortgage they need which can be viewed as a positive.
The good news is that these options are still available. There will just need to be more focus on preparation and presentation work before approaching a lender.
If you have any questions that this blog may have got you thinking about, just drop us an email or call. We’re here to help.