Case Study: Securing £2.48m in High-LTV Borrowing for Newly Made-Up Law Firm Partner
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Overview
A recently promoted partner at a US-headquartered law firm approached us to help finance the purchase of a £3.1m London home. As a newly made-up, non-equity partner with variable USD income, securing an 80% loan-to-value mortgage presented some challenges — but we made it work.
The Challenge
Our client had just stepped up into a partner role, which meant a change in pay structure, including a fixed base and large annual bonus — both paid in US dollars. The lack of a long track record in their new role, combined with the foreign currency element and the size of the loan (£2.48m), meant many lenders would either decline the case or reduce the income considered.
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Our Solution
We worked closely with lenders who understood international law firm remuneration and were comfortable using anticipated income increases alongside verified historic bonus payments. By structuring the application around the fixed element of income and the established bonus history, we were able to get full credit for the earnings profile.
To support affordability and preserve monthly cash flow, we recommended structuring 60% of the borrowing on an interest-only basis, with the remaining 20% on capital repayment over a 30-year term. This balanced flexibility and long-term planning with short-term affordability.
The Outcome
We secured a £2.48m mortgage at 80% loan-to-value, with a blended repayment structure and a competitive interest rate — all within the lender’s standard offering. The client moved into their new home with confidence, knowing the finance was structured to suit both their current earnings and future progression.
What Our Clients Say
What We Can Do for You
High-value borrowing doesn’t need to be out of reach, even with complex income or recent promotions. Understanding how different lenders assess bonus income, foreign currency, and partner pay structures is critical — and that’s where our experience makes the difference.
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APPROVED BY THE OPENWORK PARTNERSHIP ON 27/06/2025