The couple had recently sold a large stake in their cleaning company to a private investor, reducing their shareholding to 10% each.
The combined 20% shareholding meant the applicants would be treated as employed, rather than self-employed, for affordability purposes.
The sale had provided them with a lump sum they intended to use as their deposit. As part of the share sale agreement, the clients had negotiated higher salaries for themselves, in return for managing not just their business but other complementary businesses their investor had bought.
The main issue was that the share sale had only just taken place, and the clients could only evidence their increased salaries for a few short months. The concern was that some lenders would be wary their income was staged for the purpose of obtaining a mortgage.
In addition, one of the clients was a foreign national, and didn't yet have Indefinite Leave to Remain, though they had lived in the UK for over 10 years and their children were born and raised in the UK.
Most of the mainstream lenders we spoke to either required Indefinite Leave to Remain immigration status or 12 months payslips to verify the new, much higher salaries were legitimate.
However we eventually came across a high street lender willing to help after we provided them with a copy of the sharesale agreement, and an accountant's letter explaining both the context behind the sale, and that trading performance was improving thanks to winning new contracts, as evidenced by the most recent year's company accounts.
The clients, who were first time buyers, were thrilled to secure the large family home they'd set their hearts on, eventually moving in to the property in January 2025.
Case Study 2
Case Study 9
