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Tom wanted to be the first person to live in his cool new flat

Meet Tom.

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’.”

KEY FACTS

Adviser: Andrew Cryer

Purchase price: £267,500

Loan: £240,750

Arrangement Fee: £900

Rate: 1.84%

Term: 20 years