Mortgage offer for clients returning to UK from Hong Kong produced in four days
Trinity Financial recently secured an incredibly fast mortgage offer for a couple returning to the UK from Hong Kong.
They had an offer accepted to buy a new build flat and wanted to get their finances in order as quickly as possible.
One of the clients had moved to a new company in the UK and had only been working there for two months.
His Chinese partner had also relocated to the UK and continued working for the same employer. She had a spousal visa.
The couple were living and working in Hong Kong for two years and kept a bank account open in the UK, this helped to boost their credit score.
Trinity’s broker approached a lender offering impressively priced mortgage rates and fast service standards. The bank issued a mortgage offer within four working days.
Case details
Value: £690,000
Mortgage: £588,000
Rate: 1.79% fixed until 31/12/2020
Reversion rate: The bank’s standard variable rate currently 4.24%.
The overall cost for comparison is 4% APRC representative.
Lender’s arrangement fee: £1,499
Mortgage term: 35 years
Repayment type: Full capital repayment
Loan-to-value: 85%
Early repayment charge: Apply for two years.
Overpayments: Up to 10% per annum.
Representative example: A mortgage of £588,000 payable over 35 years, initially on a two-year fixed rate and then on a variable rate of 4.24% for the remaining 33 years, would require 25 monthly repayments of £1,885.05 followed by 395 monthly repayments of £2,643.20. The total amount repayable would be £1,091,551 made up of the loan amount, plus interest (£503,191) and fees of £1,499. The overall cost for comparison is 4.6% APRC representative.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
Call Trinity Financial on 020 7016 0790 to secure a fast mortgage offer
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