Andrew got him into his cool new flat even after Tom had tried and failed to get a mortgage himself.
“When I met Tom, he told me that he’d already been to a high street lender who’d told him that they were overexposed in the building he was looking at. Overexposure is when a lender has a strict limit on the number of flats or houses that they will lend on within a specific building or housing development. Usually, they will limit it to 20% – 30% entire development.
Luckily for Tom, I have contacts at all the high-street banks and I spoke to someone over the phone to talk through the overexposure. We came to an agreement that Tom would be able to get his mortgage through the high-street bank and achieve his dream of owning a flat in a converted tennis ball factory (cool, right?).
Tom was also looking for very near the maximum he could borrow but this didn’t become an issue as I know how all the banks look at affordability so I was able to work out which bank would meet his mortgage requirements.
In just two weeks, I got Tom to the position where he could exchange contracts for his dream pad. Just call me ‘Speedy Gonzalez’.”