£890,000 remortgage for borrower switching from tracker rate to a five-year fix

by Aaron Strutt

Feb 01 2024

What was the situation?

Trinity Financial’s existing customer asked for help refinancing from their two-year tracker rate to a five-year fix.

They had seen fixed rates increasing and decided they would rather have a five-year fix for the payment security.

They worked in financial services, and their annual bonus was larger than their basic salary. Their current mortgage was £890,000, and their property was worth just over £1.5 million.

They had completed a large amount of work on their home and thought by getting the property revalued as part of the remortgage, they would be able to get a more attractive rate.

How did Trinity Financial help?

As our broker arranged their last mortgage and had their account details, he checked to see what their existing lender was offering them to stay and whether they had a good five-year fix. A rate switch would have resulted in less paperwork.

After confirming that the lender was not offering the most competitively priced five-year fixes, he found the lender offering the most competitively priced five-year fix, which was happy to use such a large amount of bonus income. 

He submitted the application and secured the rate. The property was revalued as part of the process. 

Lending solutions with Trinity Financial

Are you looking to remortgage 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 

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage