👉 Knot your average case study from The Stafford. 👈
In this case we helped a couple capital raise on their existing property to repay dad the money he lent them to buy the house. Details of the application include:
• Remortgaging a property worth £565,000
• Looking to raise £300,000 to repay dad
• The property has an Agricultural Tie
• One applicant is employed with annual bonus income
The unusual property type wasn’t an issue, the agricultural tie was a standard tie that the solicitor confirmed they satisfy and is within our criteria.
With a two-year track record of a similar level of annual bonus we were happy to use 100% of this towards affordability
We were happy to raise the funds to pay dad back as we had evidence of the debt owed to him.
That’s another unusual case untangled by The Stafford for Intermediaries!
