£600,000 interest-only mortgage for investment banker separating with wife
Key features:
- Full interest-only mortgage with 25% deposit
- Investment banker buying new home
- 1.69% five-year fix
The client:
Our investment banker client asked for help to secure an interest-only mortgage to purchase a new property in London. He was separating from his wife and wanted to keep his monthly costs as low as possible.
What was he looking for?
He had found a property to purchase and wanted a fast mortgage offer, also to use the sale of the property as the interest-only repayment vehicle.
He asked for a competitively priced five-year fixed rate to match his 25% deposit.
How did we help?
Trinity’s broker contacted a high street mortgage lender providing one of the most generous interest-only policies for wealthier clients.
The bank assessed his overall affordability and was happy to provide a £600,000 mortgage even though he had a property in the background.
What was the rate?
We secured a 1.69% five-year fixed rate until 02 December 2024 with a 3.4% APRC. There was a £999 arrangement fee and a free property valuation. The mortgage reverted onto the lenders 4% standard variable rate. The mortgage offer was produced within ten working days.
Call Trinity Financial on 020 7016 0790 to secure an interest-only mortgage
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