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£1 million mortgage agreed in a week for partner in a law firm

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Key features:                 

  • 1.99% part interest-only £1 million mortgage    
  • Client initially spoke to a private bank offering higher rates 
  • Self-employed mortgage for new partner in law firm
  • Mortgage offer produced within a week 

Trinity's client asked for help to raise £1 million to purchase a £1.25 million property. She had recently become a partner in a law firm and approached a private bank to find out how much she could borrow. She wondered whether it would be possible to get interest-only and a longer-term.  

How did we help?  

After speaking to the private bank, she contacted Trinity Financial to find out if there was anything better available. Out broker did some research and found a lender offering large loan 20% deposit mortgages, allowing 50% of the loan on interest-only over 35-year terms to reduce the monthly repayments. 

The bank provided a faster mortgage service for clients borrowing over £1 million and produced a mortgage offer within a week.  

What was the rate?        

A 1.99% rate was fixed until 31/12/2023, and after the fixed period, it reverted to the bank's 4.55% standard variable rate.  

The overall cost for comparison is 4.3% APRC. The arrangement fee was £1,999, and early repayment charges applied. The mortgage term was 35 years.  

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

 

As seen in
sunday times telegraph financial times bbc news the express the times
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