Investec produces £7.65 million mortgage in 12 days
In its latest case study confirming the type of mortgages it offers, Investec provided a £7.65m mortgage for an entrepreneur with a 25% deposit in 12 business days.
Investec private bank offers a range of mortgage solutions for wealthier clients, often seeking larger loans with smaller deposits than other private banks.
While the residential mortgage market has slowed, expensive properties are still being sold, particularly to overseas buyers and high-net-worth clients. Buyers are in a strong position to negotiate property prices and potentially get discounts.
Fast large loan mortgage offer
Investec consistently offers large mortgage loans, and it this case study it offered a multi-million-pound mortgage to a co-founding CEO and majority shareholder of a UK-based privately owned shipping company. Most of the client’s wealth was tied up in their private company and an offshore trust.
The problem and solution
The client had a mortgage offer with another lender and had progressed with the legal and due diligence stage, but was looking for a new lender who could meet a three-week completion deadline and offer a higher loan-to-value. They received a salary and bonus income from their company, predominantly from dividends.
Investec provided a mortgage with increased leverage and met the completion deadline. The mortgage was drawn 12 working days after the initial enquiry. The mortgage of £7.65m was provided at 75% loan-to-value for a 10-year term on an interest-only basis, with a one-off capital reduction after the first two years, reducing the leverage by 10%.
Are mortgage lenders offering £1 million+ mortgages?
High street mortgage lenders and private banks offer £1 million+ mortgages with varying fixed and tracker rates and arrangement fees between £995 and 1% of the loan amount.
Many of the large loan providers are not as busy as they would like, so they can work faster and get mortgages agreed upon.
Call Trinity Financial on 020 7016 0790 to secure a large mortgage loan or book a consultation
The information contained within was correct at the time of publication but is subject to change.
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