Foundation Home Loans has completed a complex mortgage case for a client purchasing their first property – a licensed seven-bedroom HMO in Bristol – despite the applicant being both a first-time buyer and first-time landlord.
The £660,000 purchase was supported with a 75% loan-to-value mortgage arranged through one of Foundation’s specialist HMO products.
The client, a high-earning London-based legal professional who currently rents, sought the property as the start of a long-term investment portfolio.
Many lenders are unable to consider applicants who are both new to property ownership and to the landlord sector, particularly for licensed HMOs.
Foundation assessed the case on its full merits, taking into account the client’s clean credit history, strong financial position, and a clear, credible management plan for the property.
Grant Hendry, director of sales at Foundation Home Loans, said: “This is a perfect example of how we work with brokers to find solutions for cases that fall outside standard criteria.
“Such a case would often be declined outright based on the client being both a first-time buyer and landlord.
“Fortunately, we had worked with the broker before and they trusted us to assess the case on its full merits, rather than being restricted by headline criteria alone or dismissing it at first glance.
“The client’s strong financial position, clean credit history and well-structured management plan allowed us to offer a suitable solution through one of our specialist HMO products.
“And that’s the beauty of specialist lending, its understanding the individual, not just working through a checklist. It’s about being positioned to support creditworthy, capable borrowers in a responsible manner.”
