Kent Reliance for Intermediaries helps footballer score dream home


Adrian Moloney OSB

With over 4.3 million people now classed as self-employed in the UK, complex incomes are no longer uncommon and specialist lenders such as Kent Reliance for Intermediaries (KRFI) have experienced BDMs on hand to help strike up those important conversations.

It’s the expertise of specialist lenders working closely with brokers who know the case inside out to look beyond what’s sometimes written in black and white.

Conversations are paramount to foreseeing possible challenges and could help to overcome hurdles where complex income streams need to be considered and other avenues explored.

A recent residential case was completed with KRFI through Joshua Lee of The UK Adviser for £450,000.

The customer was a professional footballer who has been with their current club for 3 years, however, their current contract was due to expire in only 18 months.

The customer, looking for a maximum 25 year mortgage had been turned down from other lenders over concerns about their age in relation to the mortgage term, the sustainability of their income and the amount of work that was required on the property.

This was despite the customer having £700,000 in liquid savings available, after the deposit and refurbishment costs had been paid.

The deal was accepted on an interest only basis over a 23-year term at 85% LTV. The broker had indicated that other lenders were looking to cap interest at 50-65% LTV.

This is where looking beyond the case application and picking up the phone can make a pivotal difference as after talking to the football club’s HR Director who confirmed that the player, a talisman of the team, would be offered a coaching job at the end of their current contract, the underwriting team were happy to approve the application.

Adrian Moloney, Group Intermediary Director, KRFI said:

“A case such as this really does show that by digging that little bit deeper, we’re often able to find the details that can make the difference between a case being accepted or being rejected.

Alongside this, having our in-house underwriting team part of the journey from the outset, could save time and help iron out any potential challenges that could arise.”

Joshua Lee, Mortgage Adviser, The UK Adviser said:

“The challenges in this case meant many lenders closed the door without a second glance with the exception of Kent Reliance for Intermediaries.

Their conversational approach means they looked beyond what was in front of them and explored opportunities that would support an application.

Working with Gareth Haywood (BDM) on this gave great insight into what can be done when looking outside of the box and how their teams work together to get cases to completion.”