Hugh & Wendy Marshall
Entrepreneurs
Wanting to invest in property
The Marshalls like to think they know an opportunity when they see one. After all, for the last decade they've been successfully running a string of businesses. But now Hugh's been tipped off about a two-bed terrace in their area that's coming to market. It'll need some modernising, but they believe it could be an ideal Buy to Let investment.
However, despite their track record in business, they're finding traditional high street mortgage lenders aren't exactly falling over themselves to help. The staff are professional and smart, but more used to standard homeowner mortgages than specialist products like Buy to Let. In addition, Hugh and Wendy have been taking income from their businesses in a mix of salary, dividends and bonuses. So lenders looking solely at their paychecks aren't getting a true picture of their earnings.
So, you can imagine their delight when they found Giraffe have a friendlier and more amenable attitude to Buy to Let, not to mention products developed specially for this market. Following Giraffe's simple processes they quickly determined how much they could borrow - based not on their income, but on Hugh's research into the rental income they can expect to generate. Even better, as they are looking to borrow under 75% of the property value, Giraffe haven't even asked for proof of earnings.
Buoyed up by Giraffe's astute and helpful support, Hugh and Wendy, ever the entrepreneurs, are now wondering if they should develop a small Buy to Let portfolio. Needless to say, if they decide to do so, we'll be right here to help them.
Please note that the above case study is purely fictitious and not based on true characters.