Case Study - Application To Offer In 4 Hours

My first time buyer client was looking to buy a flat in London. ex local authority property with a 90 year lease, this is not acceptable to all lenders. In fact, some of the main high street lenders said it would likely be declined at valuation stage. 

 

After speaking with various lenders I submitted with a bank who had said they did not see an issue with the property. At application they did a digital valuation and offered within 4 hours. The buyer of course is over the moon! 

 

What did we do to prepare for the application? 

 

Client provided 3 months bank statements and payslips 

Deposit was a gifted deposit from a close relative 

Case study and property link were sent out to the lenders to look through before going live with the application to identify who would be the best lender to meet the client requirements and also who would accept the property 

As it was a flat, details of the lease were obtained and run through with the lender to ensure acceptable 

 

Once the lender was identified the application was submitted and an offer produced same day thanks to the due diligence completed on the case before submission. 

 

Victoria Bennett 

 

victoria@hdconsultants.net