Miss A desperately wanted to get onto the mortgage ladder but property prices in London were out of her reach her own bank had said that they would not allow a first time buyer to buy a rental property. She had spoken to another broker who had confirmed this. And also stated that the rent achievable would not stack up in any case.
Solution
We were able to find a lender with a more flexible approach with a lender who was happy that the client would not live in the property and would be in a position to subsidise the mortgage repayments should interest rates rise, which meant the rental income was no longer an issue.
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