£1.4 million buy-to-let remortgage from private bank onto tracker rate priced at 0.89%
Key features:
- £1.4 million buy-to-let remortgage
- Super-cheap 0.89% tracker rate
- Client switching from private bank offering uncompetitive terms
Our client
Our client was a limited company director with a large buy-to-let property in London valued at £5 million. His existing mortgage rate was due to finish with a private bank and he wanted help find a lender offering cheap mortgage rates for larger loans.
How did we help?
Our broker arranged the remortgage with one of the largest broker-only lenders and the client initially opted for a fixed rate. When the Bank of England base rate was initially lowered, he swapped the client to a two-year tracker and secured him an incredible deal.
The lender paid for the property valuation fee and legal costs lowering the price of switching providers.
What was the rate?
A tracker rate mortgage priced at 0.79% over the 0.10% Bank of England base rate until the 31 May 2022. The rate reverts to the lender's standard variable rate of 4.74%. The overall cost for comparison is 4.4% APRC. The arrangement fee was £1,995 and early repayment charges apply until 30 June 2022.
Call Trinity Financial on 020 7016 0790 to secure a buy-to-let remortgage or book a consultation
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