A family needed to buy a £1.75 million home within weeks of relocating back to the UK — while managing two existing properties, a non-standard income structure, and a vendor in a chain with a fixed moving date. With over £1.6 million to borrow across two properties and a survey revealing spray foam insulation complications, this was a high-value mortgage case requiring speed, coordination, and a clear strategy from the outset.
What was the situation?
The family was relocating back to the UK after a period abroad. One of them was starting a new role, and they had already identified their next home — an unusual property in Buckinghamshire created by merging three terraced houses into a single residence.
They owned two properties in the UK with significant equity. Neither had been sold. They needed to access that equity and secure additional borrowing to fund the purchase without waiting for a sale to complete.
The vendor was in a chain, and the family’s removal company was already booked to ship their belongings back to the UK. There was no room for delay.
What was the challenge?
The immediate problem was structure. The family needed to borrow £1.63 million in total — part secured against one of their existing buy-to-let properties, part secured against their new purchase.
Their income also required careful handling. The client’s payslips didn’t align with the payments from their employer due to the relocation package. Not all lenders would accept that as straightforward PAYE income, so we needed to select one that understood the context and could underwrite accordingly.
The property itself added complexity. A full building survey — which we arranged through a trusted surveying firm for a quick turnaround — flagged the presence of spray foam insulation. This can be a lender concern if not installed correctly, as it may affect the property’s mortgageability and future value. That issue needed resolving before the lender would release funds.
The timeline was tight. Application to completion needed to happen inside ten weeks.
What did we do?
We structured the borrowing across two transactions. The family released equity from their existing buy-to-let property and maximised borrowing on the new purchase. That gave them the funds they needed without forcing a sale.
We selected a lender that could work with their relocation income structure and was comfortable with the property type. The lender understood that merged period properties often present unusual layouts and valuations, and wouldn’t reject the case based on that alone.
When the spray foam issue surfaced, we worked with both the lender and the solicitor to address it. The insulation had been installed professionally and didn’t pose a structural risk. We provided evidence to the lender, and they agreed to proceed without requiring a retention — keeping the transaction on track.
We also introduced the family to one of our partner law firms to handle both the remortgage and the purchase simultaneously, ensuring everything moved in step.
Both mortgage products were trackers with no early repayment charges. That mattered. The family intended to sell one of their existing properties in the coming months and wanted the flexibility to repay debt without penalty once that sale completed.
What was the outcome?
We secured two mortgage offers totalling £1.63 million. The buy-to-let remortgage completed at 4.2 per cent. The residential purchase completed at 4.48 per cent. Both were tracker products with no early repayment penalties.
The family completed on in August, ten weeks after the initial application. The vendor’s chain held, the removal team arrived on schedule, and the family moved into their new home without delay.
The tracker structure gave them the freedom to repay when their other property sold, without incurring exit fees or being locked into a fixed term.
If you’re managing a high-value purchase with existing properties in the mix, or dealing with income that doesn’t fit a standard payslip structure, the lender you choose and how the case is structured will determine whether it completes on time — or at all.
