Jagroop and Jasmeen’s
Success Story
Background: Jagroop is a day rate contractor and has been providing consultancy services to multiple companies on a contractual basis for years. His wife Jasmeen is employed as Head of Tax Operations. Jagroop and Jasmeen were looking to remortgage their existing property as they wanted to complete a full renovation to turn it into their dream home.
Challenges: Jagroop experienced an issue which many contractors experience when looking at mortgage options. Jagroop was told he was unable to get a mortgage using his contractor income unless he had 2 years SA302s to evidence his income. To further complicate matters he owned the property for less than 6 months.
Solutions: Jagroop and Jasmeen initially completed our Do You Qualify quiz. They were promptly contacted by Dylan, our expert mortgage consultant. Dylan quickly recommended a mortgage product tailored for contractors allowing them to raise the loan amount they were looking for. At this point our internal underwriting team vetted his paperwork to ensure the case would be watertight once the application was submitted to the lender.
Results: Thanks to our industry knowledge and tailored self-employed approach, Jagroop and Jasmeen secured the mortgage they needed on the best terms for them. This was all done without having to wait for two years SA302s or Limited Company accounts. In addition to this, they were able remortgage within 6 months of owning their property. Shortly after, they could finally begin renovating their home.
In Their Own Words: “Our situation was such that we were able to purchase the house we wanted with existing funds, however, needed to carry out extensive renovation works to ensure the house was viable to live in for our family requirements. Obtaining the funds via the mortgage has not only enabled us to ensure we are able to live with our family and extended family in a manner that suits us but also allowed us to create our dream ‘forever home’. The house is close to our children’s school, close to the train station for work and pleasure purposes. Having this home has allowed us to dispose of one of our vehicles and reduce to just the one as we do not require it. All in all, having this house in the manner we are creating it has meant we are able to transform our lifestyle to one we dreamed of”
How would you describe your experience?
Our experience with New Wave was nothing short of perfect. We were looked after by Dylan and Kim who made the entire process stress free, very easy and simple. Having been through this ourselves via the banks and knowing experiences of friends and family we were not looking forward to the mortgage application. Our fears were, however, not valid and that was due to Dylan and Kim taking all the hard work out of it, their advice, contact and ‘holding our hand’ through the process made the application one of the easiest things we have had to do. The application to offer turnaround was remarkably one week. We were pleasantly surprised due to our previous experience, however, now we have had the opportunity to work with Dylan and Kim it is not a surprise to see why it was so easy and successful. It is absolutely down to Dylan and Kim’s knowledge, experience and mannerisms. They were perfect which in turn is a reflection of New Wave Financial Services. We absolutely endorse them and recommend them to anyone who wants a seamless and easy mortgage or remortgage application.
Why New Wave?
Our situation is that one of us is permanently employed and the other has been a contractor for a number of years. After initially reaching out to our building society and a bank we were told that the prospect of attaining a mortgage for the amount required would be very difficult. The willingness to address our contractor income was not taken warmly. We then carried out some research on financial service providers who could assist with contractors. Each and every time New Wave Financial Services was mentioned, we reached out and the rest they say is history.
