David Lauder talks us through some of his clients and their very different circumstances, and how he helped them find the right mortgage.

Whatever your circumstances, ESPC Mortgages can advise you on the best route to follow when it comes to applying for a mortgage.

Case 1: Advice for a first time buyer who isn’t employed on a permanent basis.

I met with a 37 year old single man who was a first time buyer, and when gathering information on his employment, he told me he was just about to start a new full time, permanent position. But this meant he hadn’t accumulated any pay-slips as yet, which is often a requirement for lenders.

We managed to find a solution and got an agreement in principle from a mortgage lender based on this scenario. The client found a property he liked and his offer was accepted, and we proceeded to a full application. However, it became clear that he was actually in a contracted position rather than a permanent position, which affected my analysis and advice. Because our chosen mortgage lender had based the agreement in principle on a permanent position, we were advised that this mortgage may now not be possible.

However, we built a case to appeal to the lender based on the fact that the client had lots of experience and history in this type of work, along with continuous previous employment. While he hadn’t provided his correct circumstances initially, we managed to get the case approved as an exception and well within the required timescales. The client was happy and relieved although he was now aware of the importance of providing accurate information.

Case 2: a mortgage for a family home, with only one income- Gavin & Anna and one year old son

We’ve had two cases where a couple have been looking to buy a family home for their young family. They only have one income as the mother stays home to care for dependent children, but there are also childcare costs involved.

The clients were looking for almost four times the income of the sole earner. We assessed and analysed their budget to ensure the affordability of the proposed amount and we were able to find a suitable mortgage lender who would look favourably at this and not factor in potential childcare costs and the number of dependants. This avoids it being ‘double-counted’ in essence and the client wouldn’t have to struggle to get the deposit required. The new mortgage payments have also worked out less than the rent they have been paying which means they have a stronger budget going forward, and by becoming house owners there is now a brighter future for the applicants.


Client 3: Mortgage advice for freelancers

A 32 year old IT contractor had been seeking advice after having an offer accepted on a property, but he had still not sold his own property. He was struggling to find a mortgage lender or solution to help with his circumstances.

He came to us for advice and we were able to find a mortgage lender who would allow us to use his daily rate of pay from his contracted position due to the nature of his job, and this inflated his borrowing potential. It allowed him to borrow the amount required whilst also keep his existing property for a temporary period until an acceptable offer was submitted. Furthermore, we were able to have his mortgage agreed within a two week period which was important as the time constraints were tight. It had been a potentially stressful situation for the client, so he was happy and relieved to have the mortgage sorted quickly and was able to complete the missives.

Get in touch

For help with any mortgage related enquiry give David a call on 07810 522 422, email david.lauder@espcmortgages.com or pop into the ESPC showroom at 107 George Street, Edinburgh, EH2 3ES.


The information contained in this article is provided in good faith. Whilst every care has been taken in the preparation of the information, no responsibility is accepted for any errors which, despite our precautions, it may contain.

No Individual advice is given, nor intended to be given, in this article and no liability will be accepted in respect of any action you make take as a result of reading this article.  If you are unsure whether any particular course of action may be suitable for you, you are urged to take independent advice.

The initial consultation with an adviser is free and without obligation. Thereafter, ESPC Mortgages charges for mortgage advice are usually £350 (£250 for first-time buyers). YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED AGAINST IT.

As independent mortgage brokers, ESPC Mortgages can help with understanding your budget, providing impartial advice on getting a mortgage, applying for a mortgage and arranging relevant property and personal insurance requirements.