£950,000 remortgage onto low two-year fix
Our clients requested help to switch to a low fixed rate mortgage.
Their existing rate was coming to an end and they were keen to remortgage before they reverted onto an expensive standard variable rate.
We secured a fast mortgage offer through a bank providing free property valuations and free legal services to reduce the costs of switching lenders.
The mortgage also had a 10% overpayment facility enabling the client to make lump sum repayments in line with their annual bonuses.
Property: House in Surrey
Value: £1,400,000
Mortgage: £950,000
Rate: 1.64% fixed until 2 May 2018.
The overall cost for comparison is 4.2% APR.
Reversion rate: The lender’s standard variable rate, currently 4.74%.
Lender’s arrangement fee: £1,495
Mortgage term: 25 years
Repayment type: Full capital repayment.
Loan-to-value: 65%
Early repayment charge: 3% of the loan until 2 May 2018.
Overpayments: Up to 10% of the outstanding balance per year.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
For help to remortgage a larger mortgage loan call Trinity Financial on 020 7016 0790.
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