- £4.5 million mortgage agreed for £5.3 million property purchase
- Clients paid in US dollars with large bonuses
- 85% loan-to-value mortgage
Our clients agreed to purchase a large property in London and required a lower deposit mortgage. They were both British, working for a bank in London and paid in US dollars.
How did we help?
Many of the lenders offering £4 million+ mortgages require borrowers to have a deposit of at least 25%, but Trinity has access to one private bank offering larger loans with smaller deposits for wealthier borrowers.
Was the mortgage interest-only?
The mortgage was on interest-only for five-years. After that, it will switch to capital and interest to ensure the loan is repaid in full at the end of the term.
What was the rate?
A 2.60% over the Bank of England base rate and the arrangement fee was 1% of the loan amount. The overall cost for comparison is 2.9% APRC. Early repayment charges applied for two years.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation