£2 million mortgage for barristers buying new family home
Trinity Financial recently arranged a £2 million mortgage for two barristers buying a new family home in Islington. The couple were self-employed and had a £800,000 deposit to put towards the property purchase.
They worked for a leading London Chamber specialising in commercial, employment, and international law.
Did they have a complex situation?
Our clients had a long track record of self-employed income, which had fluctuated over the years, depending on the number and profile of the cases they worked on. They had a clear credit history and had already sold their existing property to release the equity and fund the onward purchase.
They needed a five-time salary income multiple and requested a competitively priced two-year rate with the option of making lump sum overpayments.
How did we help?
Trinity's mortgage adviser researched the market and approached a bank offering the most competitively priced two-year fixed rate.
The lender offered mortgages up to 5.5 times salary as standard for self-employed borrowers earning over £100,000 taking larger mortgage loans. The bank also allowed up to 10% of the mortgage balance to be overpaid each year without charge.
After submitting the case, the lender offered the required five times salary income multiple and produced a mortgage offer within ten working days.
Was the rate particularly good?
Trinity's broker arranged a two-year fixed rate of just over 5%. Like many borrowers taking a shorter-term fix, they hope to swap to a cheaper deal if rates come down.
Lending solutions with Trinity Financial
Are you looking to buy a property and require expert advice? We’re here to help you find a solution – no matter how complex your circumstances.
At Trinity Financial, our expert brokers have extensive experience providing creative solutions to secure mortgages for our clients.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
Are you looking to buy a property and require expert advice? We’re here to help you find a solution – no matter how complex your circumstances.
At Trinity Financial, our expert brokers have extensive experience providing creative solutions to secure mortgages for our clients.
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
