Case Study: How Using a Broker Helped a First-Time Buyer Couple Borrow More Than They Expected
At J Finance, we specialise in helping first-time buyers get the most from their mortgage by exploring lenders beyond the high street. Many buyers assume they’re limited to standard borrowing criteria, but different lenders assess income in different ways—sometimes allowing them to borrow significantly more than they thought possible.
Here’s how we helped a first-time buyer couple secure a larger mortgage than they expected, enabling them to buy their dream home.
Client Profile
Names: Adam & Sophie (First-Time Buyers)
Situation: Wanted to buy a £350,000 home but thought they could only borrow £250,000.
Challenge: Their bank offered them a lower mortgage than they needed.
The Problem
Adam and Sophie had been renting for several years and were excited to buy their first home. They had saved a deposit (£35,000) but were worried they wouldn’t be able to borrow enough to afford the house they wanted.
They initially approached their bank, which only offered them:
❌ £250,000 mortgage – Based on 4x their combined salaries (£62,500 income).
❌ Standard affordability calculations – Ignored factors like extra income from overtime and bonuses.
❌ Strict lending criteria – Didn’t consider their strong credit history and stable jobs.
With a £250,000 mortgage and their £35,000 deposit, they were limited to homes around £285,000—much lower than the £350,000 home they had their hearts set on.
Frustrated, they turned to J Finance for expert advice.
The Solution: Finding the Right Lender
After reviewing their full financial picture, we identified lenders who:
✔️ Considered Overtime & Bonuses – Adam regularly worked overtime, and Sophie received an annual performance bonus.
✔️ Used Higher Income Multiples – Some lenders offered 4.75x to 6x salary instead of just 4x.
✔️ Took Their Credit History Into Account – Their excellent credit scores allowed access to more flexible affordability models.
New Mortgage Offer Secured
Property Price: £350,000
Mortgage Secured: £315,000 (90% LTV)
Lender Used: A specialist mortgage provider offering enhanced affordability
New Borrowing Capacity: £315,000 instead of £250,000!
Interest Rate: Competitive fixed rate
By working with the right lender, Adam and Sophie were able to borrow £65,000 more than their bank originally offered—making their dream home a reality!
The Result
✔️ Bought Their Dream Home – They were able to afford the £350,000 property they originally wanted.
✔️ Borrowed £65,000 More Than Expected – Simply by working with a lender with more flexible criteria.
✔️ Kept Monthly Payments Affordable – The mortgage was structured within their budget.
✔️ Secured a Competitive Interest Rate – Despite borrowing more, they got a great deal.
✔️ Stress-Free Process – With our help, they navigated the mortgage process smoothly.
How J Finance Helped
✅ Explored the Whole Market – Unlike just using your bank, we had far more options.
✅ Maximised Their Borrowing Power – Factored in overtime, bonuses, and credit history.
✅ Secured a Tailored Mortgage Deal – Matched them with a lender that suited their needs.
✅ Guided Them Through Every Step – Ensured a smooth and stress-free mortgage application.
Thinking of Buying Your First Home?
If you’re a first-time buyer, don’t assume that high-street banks offer the best mortgage deals! Different lenders use different affordability criteria, and you might be able to borrow more than you think.
At J Finance, we specialise in helping first-time buyers secure the right mortgage, whether it’s for maximising borrowing potential, securing the lowest rates, or navigating the application process.
📞 Call us today for a free consultation.