Case Study: Live/Work Holiday Let Purchase
How a buyer with an unsold home competed for a three-unit holiday let property, living in one unit and letting the other two, in a market dominated by cash buyers. The Client Our client, an employed professional earning £174,000 a ...
Settling an HMRC Liability on a New Holiday Let: The Case for a Second Charge Bridge
When the equity was there but the letting history was not, a short-term bridge cleared the tax bill and bought time to refinance. The Client Our client owns a property in Scotland which he has recently started letting as a ...
Remortgaging Through the Q3 Repricing Wave with One Year of Self-Employed Accounts
How a Kent couple raised funds for home improvements and avoided their lender’s standard variable rate, after their existing lender declined a further advance. The Client Mr and Mrs T are homeowners in Kent with two children. Their home is ...
Bridging In, Mortgaging Out: A Scottish Holiday Let Refurbishment
How a first-time developer bought a run-down nine-bedroom house in Argyll and Bute, refurbished it and refinanced onto a holiday let mortgage, with the exit agreed before the purchase even completed. Why an unlettable property needs two loans, not one ...
Case Study: Keeping and Letting a UK Home After a Move to Australia
How we helped Dom hold on to his UK property and let it out after emigrating, bridging the gap with Consent to Let before arranging a longer term Expat Buy to Let. The Client Dom owned a residential property in ...
Mixed-Use Purchase – Farmhouse with Ancillary Accommodation and Holiday Let
How Drake drew on its specialist master broker network, the broker’s broker, to reach lenders beyond a standard panel and place a complex multi-unit, single-title residential purchase. The Client A family looking to purchase a substantial rural property as their ...
Case Study: Securing a Future Retirement Home with a Holiday Let
Client A married couple in their early fifties, both employed and around twelve years from their intended retirement. They had holidayed in the same coastal area for years and had a clear picture of the home they wanted to retire ...
Which Year Counts? How Drake Turned an AI Averaging Error Into a Completed Purchase
A well-prepared applicant followed his AI research to the letter, and the averaging it assumed pushed him toward a decline. A broker who knew which lender counts the year that matters changed the outcome. The Client Our client was a ...
Case Study: Expat Holiday Let Mortgage in Scotland
Securing a lending decision in principle for a British expat purchasing an established Scottish holiday-let business The Client Our client is a British citizen who has lived in Chicago, Illinois, for 14 years. He is employed full-time as Chief Operating ...
Bridging the Deposit Gap on an Unmortgageable Probate Property
How a client bought a run-down probate cottage through an estate agent, funded the true deposit rather than the headline figure, and exited onto a holiday let mortgage agreed in principle before completion. The client Our client was an experienced ...
Top Slicing Secures a High-End Lake District Holiday Let
How surplus personal income unlocked the loan Matt needed when the holiday let rental cover assessment fell short. The Client Matt approached Drake Mortgages looking to purchase a high-end holiday let in the Lake District. He was a strong applicant ...
Beyond the Beaten Path
What happens when a good borrower meets an automated scorecard, and a single old default gets in the way. Plenty of people who could comfortably afford a mortgage still get turned away, and often they are left with no idea ...
“I had a CCJ three years ago, so I assumed no one would lend to me.”
How we secured a mortgage for a client with a satisfied CCJ, by placing the case with a lender that judged it on age, amount and conduct rather than declining on sight. The Client The client wanted to buy a ...
“The bank said I failed the credit score. I thought I had bad credit.”
How we secured a mortgage for a client who had no adverse credit at all, by moving away from a lender that credit scored to one that credit searched. The Client Our client was a professional in their early thirties, ...
From Unlettable Purchase to Trading Holiday Let: A Bridge-to-Holiday-Let Exit
Our client found the right property in a strong holiday letting location, but it was not fit to let, so no holiday let lender would offer a mortgage on day one. Drake arranged a bridging loan to buy it and ...
Releasing Equity from a Mortgage-Free Holiday Let to Buy the Next One
Our client owned a holiday let outright and wanted a second one, with the deposit coming from the equity in the first. The sticking point was not how much equity was available, but why the money was being raised. Not ...
Protecting a Sub-2% Rate on a Home Move: Porting and Topping Up With the Same Lender
A couple with an offer accepted on their next home assumed a house move meant starting their mortgage from scratch, at whatever rate the market was offering. It didn’t. By porting their existing fixed rate across to the new property ...
Case Study: Financing a First HMO Through a Limited Company
Daniel, an experienced single-let landlord, wanted to buy a seven-bedroom HMO for £420,000 through a new limited company, but had no HMO track record and no company trading history. Two mainstream lenders turned him down before we found a specialist ...
JBSP Case Study – FTB Purchase with a Parents Income
Ella, a first-time buyer, had the deposit but not quite enough income to buy her £270,000 flat. Adding her dad to the mortgage as a joint owner would have covered the shortfall, but it would also have triggered a £13,500 ...
Raising Funds for Home Improvements Without Losing a Low Fixed Rate
An illustrative case study of how Drake Mortgages assesses secured borrowing options under MCOB and the Consumer Duty before identifying a second charge mortgage as the suitable route. The Client The client, a homeowner in his mid-forties, approached Drake Mortgages ...
Expat Mortgage Case Study: How a Dubai-Based Buyer Secured a Devon Cottage Without the Holiday Let Restrictions
Expat clients often assume that buying a UK home to live in part-time and let the rest of the year only leaves one route open: a holiday let mortgage. The case below shows why that isn’t always true, and why ...