Retired and earning his pension in Euros, our client faced a number of hurdles, with lenders unwilling to accommodate his situation. But with the help of Simmonds Mortgage Services, we soon turned his challenge into a success story!
Understanding the challenge
Mr Frimpong approached us recently via a Google search for a foreign income mortgage into retirement and asked us to help after various other brokers had failed to deliver. Thanks to our 5-star service and extensive understanding of the specialist mortgage market, we were able to find a mortgage solution that suited his complex situation.
Mr Frimpong resided in London but was looking at properties all over the south of England and along the coast, including Essex and Sussex. He struggled to find a lender due to his unique circumstances – being retired with a pension income paid in Euros.
Lenders aren’t always favourable to borrowers with complex incomes, like foreign earnings or pensions.
Our approach
At Simmonds Mortgage Services, we believe in going above and beyond for our clients, especially those facing unique challenges like foreign income and retirement. We were determined to find a solution to help Mr Frimpong find the perfect home for his retirement.
We undertook an extensive fact-find with him and gathered all the relevant documents to understand his overall finances and needs. Then, we got to work straightaway to find a competitive high-street option for his niche circumstances.
We helped him with the various properties he was looking at and guided him through dealing with estate agents.
The solution
Given his complex needs, we still managed to find him a high-street lender with a prime rate!
A message from Mr Frimpong:
I can wholeheartedly recommend Simmond Mortgages. They acted as my broker. My case was complicated because of my age and the fact that a large part of my income came from a Euro country. I had tried without success to obtain a mortgage when directly contacting institutions; I also had little success with a couple of other brokers.
Simmonds Mortgages showed knowledge of a very broad range of lenders and their lending criteria. Based on this and surprisingly rapid search capability, they found me a lender who offered an agreement in principle. Key to this was the thorough way in which the broker assessed my accounts and argued a very well-prepared case for lending with the lender.
During my search for a property, the broker offered advice on which properties to go for, and which to avoid, thus decreasing the chances of the lender declining to lend.
The broker always responded without delay to my requests and questions during the preparation of my finance data, my property search, and the offer and lender valuation period. All in all, they provide a great mortgage broker service.
Simmonds Mortgage Services: More Than Just Mortgages
Building genuine relationships with our clients is of utmost importance to Simmonds Mortgage Services. We go out of our way to understand each client’s unique needs and work tirelessly to find the best possible mortgage solution. To us, success is measured not just by securing competitive mortgages but by the peace of mind and security we bring to clients like Mr Frimpong.
If you are having difficulty securing the right mortgage for your needs, let us help. Contact Simmonds Mortgage Services today, and let’s find the mortgage you deserve.