£540,000 mortgage for marketing director buying first home
We were approached by a director of a marketing company who wanted to buy her first property.
Due to her busy lifestyle and job she was keen for a broker to arrange the finance for her purchase and she wanted to complete quickly.
The deposit for her mortgage was in an Indian bank account and had to be transferred to the UK.
Case details and solution
Our client wanted to secure a lifetime tracker mortgage without any early repayment charges in case she decided to sell her property over the coming years.
As her deposit was coming Indian her statements were translated into English so they would be accepted by the UK banks.
Property: House valued at £1.1 million located in Ealing, London.
Loan amount: £540,000.
Lenders arrangement fee: £999 and added to the loan amount.
Rate: Lifetime tracker at 1.99% over the Bank of England base rate. Currently 2.49%.
APR: The overall cost for comparison is 2.5%.
Term: 25 years.
Repayment type: The mortgage was taken on a full capital repayment basis.
Loan-to-value: Approximately 49% of the property value.
Early repayment charge: No early repayment charges.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
If you would like help to secure a mortgage to purchase a property, call Trinity on 020 7016 0790. You can also email: enquiries@trinityfinancialgroup.co.uk
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