The case involved a number of factors, including a deposit made up of personal savings alongside a 5% builder contribution.
Darlington Building Society has completed an 80% loan-to-value (LTV) mortgage for a joint application from clients living and working in Saudi Arabia, helping them purchase a new-build home in Teesside.
The case, introduced by Natalie Boult, mortgage and insurance director at Efinancy, involved a number of factors, including a deposit made up of personal savings alongside a 5% builder contribution.
The main applicant was employed overseas as a contractor and paid in Saudi Riyals, requiring assessment of foreign currency income alongside the additional considerations associated with an expat application.
The case also required borrowing at more than 5x income to meet the applicants’ affordability needs.
The application was supported through Darlington Intermediaries’ digital platform, MSO, with the case progressing through a dedicated underwriter.
This allowed the broker to work closely with a single point of contact throughout the process and secure completion of the £350,000 loan.
Chris Blewitt (pictured), head of mortgage distribution at Darlington Building Society, said: “Cases like this demonstrate why specialist underwriting still has an important role to play.
“On paper, there were several features that would have prompted further questions, from overseas contractor income and foreign currency through to the higher income multiple and new-build purchase.
“The key was understanding how those different elements worked together.
“When you have experienced underwriters who are prepared to look beyond standard criteria, it gives brokers greater confidence that complex cases will receive the consideration they deserve. That’s exactly the type of support we aim to provide.”
Boult added: “I’ve had a number of recent mortgage cases with Darlington Intermediaries and the experience has been excellent throughout.
“The digital platform is straightforward and easy to use, helping to make the application process efficient from start to finish.
“The support from the team, including Business Development Manager Kiale Sheret, has been outstanding. Everyone is knowledgeable, approachable and always willing to help with any queries.
“Having one underwriter manage each case also makes a real difference, as they build a full understanding of the application, making communication smoother and the whole process more efficient.”