Jeff, a self-employed taxi driver, needed to raise £30,000 on his buy to let property for legal fees for an ongoing legal case.

Jeff has been self-employed for a year and was unable to provide 2 years of certified accounts for a traditional re-mortgage. The rental income generated from his buy to let property was insufficient to support the existing buy to let mortgage and the additional loan.

We managed to secure the full £30,000 he needed to repay his legal fees by using his projected income, which his Accountant provided.

We secured a rate of 5.75% at 75% loan to value to assist our client with his requirements.

Loan amount:                                 £30,000

Loan term:                                      10

Monthly payment:                        £370

Annual rate:                                   5.75%

1st charge mortgage balance:     £268,000

Property value:                              £400,000

Loan to value:                                 75%