£1.3 million interest-only mortgage for chartered surveyors buying new home
Key features:
- £1.3 million interest-only mortgage
- 1.59% five-year fixed rate
- Fast mortgage offer with free property valuation
The clients:
Our clients worked in the property industry as chartered surveyors and were partners in the company they worked for.
What were they looking for?
They were looking for a large mortgage with as much of the loan on interest-only as possible.
Why was it difficult?
It was difficult because there were five partners in the firm and most lenders required at least eight partners. Our clients required a mortgage on full interest-only using an accountants certificate and letter from the firm's financial director confirm earnings, rather than their individual company accounts.
How did we help?
Trinity’s broker submitted an application to a large lender providing interest-only mortgages with the sale of the property as the repayment vehicle for those earning over £250,000. He arranged a £1.3 million mortgage, and it was all on interest-only. The mortgage offer was produced with 10 working days.
What was the rate?
The fixed-rate was 1.59% from completion up to and including 02 February 2025. After 02 February 2025 the rate changes to the lender’s standard variable rate, currently 4%, for the remaining mortgage period. The APRC applicable is 3.3%, and there was a £999 arrangement fee.
Call Trinity Financial on 020 7016 0790 to secure a large interest-only mortgage
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