Case Study: Barrister Mortgage: Evidencing Irregular Receipts For Affordability

David Walsh

DIRECTOR AND MORTGAGE ADVISER

Specialist broker for high-earning professionals and complex income cases.

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Overview

A self‑employed barrister approached us to buy a new home in London. Income arrived in lumpy stages: brief fees up‑front, staged payments, and arrears—minus chambers deductions. Many lenders struggle to read this pattern. We focused on proving sustainable income in plain English and kept the process moving so the client could get the keys in around 10 weeks.

Client Snapshot

• Profession: Self‑employed barrister (tenant of chambers)

• Income Pattern: Irregular receipts (brief fees, staged payments, aged debt), chambers rent/clerks’ fees deducted

• Objective: Purchase main residence; keep monthly payments manageable

• Concerns: Lender understanding of receipts vs billed work, and how deductions, expenses and tax affect affordability with a clear plan to reduce capital when profit share is paid

• Can accept annual lump‑sum payments to bring down the balance (product‑dependent)

• Direct access to decision‑makers

The Challenge

• Uneven Cashflow: Months with high receipts followed by lean periods.

• Chambers Deductions: Variable rent/clerks’ fees reduced headline income.

• Aged Debt & WIP: Work done but not yet paid created a mismatch between effort and bank credits.

• Evidence Expectations: Many lenders want two or three years of HMRC evidence; treatments of current‑year position vary.

• Clarity On Tax: Need to show net position after tax set‑asides and payments to avoid overstating affordability.

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What We Did

• Explained The Income Story: We set out how fees move from instruction to payment, and how chambers deductions and expenses flow through.

• Built A Conservative Income Base: Used SA302s and Tax Year Overviews for the last three years, plus year‑to‑date figures, to show a steady underlying trend despite monthly spikes.

• Net Disposable Focus: Broke out tax reserves, payments on account, and chambers rent so underwriters could see realistic take‑home affordability.

• Aged Debt Context: Provided a summary of aged debt/WIP to demonstrate pipeline consistency (without relying on uncollected fees for affordability).

• Right Lender Shortlist: Targeted lenders that may consider self‑employed professional income with irregular receipts and are used to chambers statements.

• Simple, Complete Pack: Submitted clean bank statements, fee schedules, and a short covering note mapping each figure to documents to minimise back‑and‑forth.

The Outcome

• Agreement In Principle issued quickly; valuation instructed early.

• Mortgage Offer followed after underwriting queries were answered with the pre‑prepared pack.

• Timeline: From first call to keys in ~10 weeks, helped by complete documentation and responsive conveyancing.

• Terms: A suitable product with manageable payments and room to overpay when larger fees landed.

What Our Clients Say

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Why It Worked

• Plain‑English Packaging: We translated fee mechanics into lender‑friendly language.

• Evidence Over Assumptions: Three‑year HMRC history + YTD gave comfort on sustainability.

• Prudent Modelling: Affordability after tax set‑asides and chambers rent, not before.

Documents We Provided (Typical For Barrister Cases)

• HMRC SA302s and Tax Year Overviews (2–3 years)

• Accountant’s letter confirming status and commenting on current‑year trajectory

• Chambers statements/fee notes and schedule of deductions (rent/clerks’ fees)

• Aged debt/WIP summary and narrative on typical lag from instruction to receipt

• Personal bank statements (6–12 months) showing fee flows and tax set‑asides

• Proof of deposit and source of funds

• ID & address verification

Thinking Of Doing Similar?

If your barrister income is uneven, we can show which lenders are likely to help and how to present the numbers—without over‑promising.

Request your fee free mortgage consultation today. No obligation, just sound advice.

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Quick FAQs

• How Many Years Of Accounts Do I Need?

  Some lenders may ask for two or three years. In certain cases, a shorter track record can be considered where the wider profile and evidence are strong.

• Do Lenders Understand Irregular Receipts?

  Increasingly, yes—especially with clear documents and an explanation of chambers deductions and fee timing. Approaches vary.

• Will Lenders Count Aged Debt Or WIP?

  Usually not for affordability. It can help provide context but is rarely counted until received.

• How Are Tax And Chambers Rent Treated?

  Most lenders will look at net profit and may expect to see tax provisions and chambers deductions factored in.

• Can I Make Overpayments When Big Fees Land?

  Often. Many products allow up to 10% p.a. overpayments. Larger reductions may be possible with certain lenders.

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