The people, amounts, property and circumstances are invented to explain a borrowing brief. No lender, rate, approval, completion or client outcome is claimed.
- Loan requested
- £650,000
- Loan type
- Residential purchase
- Property type
- Flat
- Illustrative price
- £900,000
- Contribution to price
- £250,000
- Illustrative loan-to-value
- 72.2%
The price contribution excludes taxes, fees, interest, works and other transaction costs. Those need a separate budget. The ratio illustrates arithmetic, not lending criteria or eligibility.
The borrower’s brief
Two buyers are looking at a converted Islington flat priced at £900,000. They propose a £650,000 mortgage and £250,000 price deposit. The building has several flats and the owners share responsibility for some repairs.
The question behind the loan
A small conversion may have a different management arrangement from a larger block, but that does not make the obligations less important. The buyers need to understand the lease, roof and external repair responsibilities, insurance arrangements and the documents for the conversion and any later alterations.
Information to bring together
- The lease, management arrangements and recent shared-building spending.
- The conversion and alteration records requested by the conveyancer.
- Any planned roof, external or communal work and the buyer’s potential share.
- The household’s income, monthly commitments and post-purchase reserve.
Where the assessment goes next
The immediate task is to turn broad assurances about shared costs into documented information. A repair commitment could affect cash retained after completion even where the mortgage payment looks manageable. No assumption is made about property acceptance or a future repair bill.
Discuss your own circumstances
A similar loan amount or property type does not mean the same finance is available. Income, commitments, credit history, the property and current terms need an individual assessment. Tell Jack what you want to achieve and any part of the plan that remains uncertain.
Prepared for Jack Cousins, Head of Mortgages at Lockhart Murphy. Updated 10 November 2026.
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