A Battersea first time buyer was renting a flat when their landlord announced plans to sell. After years of saving, the opportunity to buy the property they already called home was too good to miss — but they needed to act before it went to market.
What was the situation?
The couple had been renting in Battersea while carefully building a deposit. When their landlord decided to sell, they faced a choice: start searching for a new rental or move quickly to secure the purchase themselves.
They agreed a sale price of £780,000 before the property was listed. It was exactly the kind of opportunity most first-time buyers dream of — no competition, no bidding war, a home they already knew. But it required a mortgage of £702,000 at 90% loan-to-value, and they had no experience navigating the process.
What was the challenge?
Time was the first issue. The landlord wanted to proceed quickly, and the buyers needed certainty that finance could be arranged without delay. A prolonged approval process risked the landlord reconsidering and taking the property to the open market.
The second challenge was the loan-to-value. At 90%, the buyers were at the upper limit of what most high street lenders would offer on a flat. Not all lenders support this tier on apartments, and those that do often take longer to assess and issue offers.
The third was experience. As first-time buyers, the couple had never dealt with a mortgage application, a solicitor, or a survey. They needed clarity on what would happen and when — and confidence that the process wouldn’t fall apart halfway through.
What did we do?
The clients lived locally, so we arranged a face-to-face meeting at the Clapham Junction office. This gave us the opportunity to walk through the full timeline in detail: application, valuation, underwriting, legal work, and exchange.
We selected a high street lender with a strong track record of supporting first-time buyers at 90% loan-to-value on flats. The lender had recently improved turnaround times and was known for straightforward valuations on established developments. We avoided lenders with more conservative appetite on apartments at this tier.
Next, we ensured all supporting documents were complete upfront — payslips, bank statements, proof of deposit — to eliminate any delays during underwriting. The valuation was instructed immediately after submission.
Throughout the process, we kept the buyers informed at every stage. For clients new to the process, the gap between submission and offer can feel unsettling. We made sure they knew what was happening behind the scenes and when to expect the next update.
What was the outcome?
The mortgage offer was issued nine days after submission. The buyers had certainty, the landlord had confidence the sale would proceed, and the property never reached the open market.
The couple secured a 90% mortgage without compromising on location or property type. They avoided the uncertainty of finding a new rental, the cost of moving twice, and the risk of losing the property to another buyer.
For Oakstead, the case was a reminder that first-time buyers don’t need complexity — they need clarity, speed, and someone who understands that timing matters as much as the rate.
If you’re renting and your landlord has given you the option to buy, or you’re a first-time buyer working to a deadline, we can help you move quickly without cutting corners.
