Teachers targeting higher earners with six times salary mortgage
Teachers for Intermediaries is one of a limited number of lenders offering up to six times salary mortgages to higher earners.
The building society can provide clients with evidenced income of £200,000+ up to 6 times income mortgages when they have a deposit of at least 20%.
Aaron Strutt, product director at Trinity Financial, says: "Our brokers have access to a section of lenders offering five-times salary mortgages, and 5.5 times salary mortgages for those classed as a professional or earning over £75,000 each year. Kensington for Intermediaries is the other main lender offering six times and it has a minimum income requirement of £100,000."
Ralph Punter of Teachers for Intermediaries is Trinity Financial's dedicated contact and he says the lender is keen for business: "For clients with high evidenced income we are able to lend higher loan-to-income multiples to help them buy their dream property. We have already helped clients in this situation and are ready to help more."
The lender can accept up to 75% of bonus income for those working in financial services and its maximum loan size is £2 million. The rates will be higher than the best buy deals offered by the high street lenders and the arrangement fees will also be more expensive.
Call Trinity Financial on 020 7016 0790 to secure a more generous income multiple or book a consultation