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Case details:

Our client approached his landlord and made a successful bid to purchase the property he has been renting in London.

In order to complete on the purchase he needed to secure a £1 million mortgage and borrow 5.5 times his income.  

Solution:

We approached a lender offering generous large mortgage loan rates for borrowers requiring an income stretch.

The specialist department of the large high-street lender we submitted the application through produced a fast mortgage offer so the transaction completed quickly.

Property:  £1,300,000

Rate: Two-year fixed rate at 2.75% until 31/09/2016

APR: 3.8%

Loan amount: £1,000,000 

Lenders arrangement fee: £999 added to the loan amount

Mortgage term: 31 years

Repayment type: Capital repayment

Loan-to-value: 76%

Reversion rate:  3.49% over the BBBR, currently 3.99%

Early repayment charge: 3% until 31/09/2016

The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration. 

If you would like help to secure a mortgage to purchase a property, call Trinity on 020 7016 0790. You can also email: enquiries@trinityfinancialgroup.co.uk

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