Market Harborough Building Society (MHBS) has completed a residential mortgage solution for high net worth clients purchasing a £2m+ property in need of refurbishment, demonstrating its flexible approach to complex lending scenarios.
The case involved a high net worth couple whose primary income derived from dividend earnings received from shares in their business.
They required a £1.8m interest-only loan to support the purchase, with plans to invest some of the funds into refurbishing the property.
Their longer-term strategy included selling their business to repay the loan.
The clients’ financial profile did not align with standard lending criteria, prompting the need for a specialist lender capable of assessing non-traditional income streams and future exit strategies.
Market Harborough’s underwriting team, supported by its daily credit committee, assessed the case on its individual merits.
Following a detailed review, Market Harborough offered a 60-month interest-only residential mortgage, aligning with the clients’ intended business sale timeline.
This tailored solution enabled the clients to proceed with the purchase and begin transforming the property into their long-term residence.
Chris Thompson (pictured), head of sales at Market Harborough, said: “This case is a strong example of our flexible lending approach and our ability to support brokers with high net worth clients who don’t fit the standard mould.
“Our deep understanding of complex income structures and high net worth finances allows us to assess each case individually, rather than relying on rigid frameworks.
“Increasingly, brokers are turning to us as a credible alternative to private banks as we offer tailored solutions without requiring assets under management and apply high net worth exemptions where appropriate.”
