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interest-only

£600,000 mainly interest-only mortgage for banker commuting to Germany

Key features:               

  • Banker renting in Germany and returning to UK and family every two weeks  
  • £500,000 on interest-only and £100,000 on capital repayment 
  • British client paid in euros

Our clients   

Our client was a banker commuting to Germany every two weeks. He wanted to buy a new main residence for his wife and children to live in while he was renting and working overseas.  

He was paid in euros and needed a lender offering more generous income multiples without taking a “haircut” to safeguard against currency fluctuations. 

How did we help?  

Trinity’s broker approached a large bank keen to attract borrowers paid in euros with flexible criteria for overseas workers proving they come back to the UK regularly. The lender offered a five times income multiple without reducing the maximum loan size for borrowers paid in euros.  

What was the rate?      

A 1.01% rate fixed until 31/08/2023, and after the fixed period, it reverted to the banks 3.35% standard variable rate. The overall cost for comparison is 3.3% APRC. The arrangement fee was £1,495, and early repayment charges applied. The mortgage had a 20-year term.      

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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