Mortgage for a Professional Photographer based in London | WIS Mortgages
Mortgage for a Professional Photographer based in London image

Mortgage for a Professional Photographer based in London

8th November 2022

Key Figures:

  • Client: British National & Resident
  • Property Type: Residential Property
  • Property Value: £485,000
  • Loan amount: £395,000
  • LTV: 81%
  • Interest rate: A Fixed interest rate for 2 years
  • Term: 25 years

WIS Contractor Mortgages LTD specialises in mortgages for self-employed applicants, IT contractors and other professionals looking to purchase real estate anywhere in the UK.

In this case, we were approached by a UK-based professional photographer with two main sources of income. Self-employed income via his own limited company and income from his permanent employment, which he recently started.

The client was looking to acquire a new house to be used as main residence. Located in the heart of the City, the property in question was the dream purchase for the applicant. The property was valued at £485,000 and the client was looking to borrow at least 80% of the property amount.

As a self-employed photographer, you need specialist and very tailored support from a mortgage adviser. For many lenders, self-employed income is difficult to match towards the mortgage affordability. However, there are many options if you work with a mortgage adviser with the right connections and know which lenders have an appetite to work with professionals.

It was challenging to find a lender that would accept both the self-employed income and salary from the permanent employment in full to meet the mortgage affordability. Our client wanted to utilize his maximum lending capacity.

Thanks to our adviser’s extensive market knowledge, we were able to take the application directly to a lender that specialises in self-employed income using limited company annual accounts and higher income multiples. The client was in touch with us in the middle of the financial year, our adviser explained him the financial bottom-line projections required to meet the mortgage affordability. The talented photographer managed to achieve the numbers and our broker secured a very competitive UK mortgage with a high-street bank.

Please contact us to learn more about how the team can support you with securing a UK mortgage.

As a mortgage is secured against your home/property, it may be repossessed if you do not keep up with the mortgage repayments.

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