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Trinity Financial arranged a mortgage for a married couple buying a house in London with a 5% deposit. They were keen to buy the property using their savings and combined salary.   

Case details and solution

As our clients both had a provable income and a track record of employment, we approached one of the lenders offering mortgages through the Help to Buy scheme. We secured one of the lower rates with a competitive reversion rate. 

Property: Three bedroom house valued at £550,000 in North London. 

Mortgage loan amount and rate: £517,000 taken on a two-year fixed rate at 4.99%. After two-years the mortgage reverts to the lenders standard variable rate currently 4%.  

Lenders arrangement fee: £995 and added to the loan.

APR: The overall cost for comparison is 4.3%. 

Term: 30 year term – designed to lower monthly repayments.

Repayment type: Full capital-repayment mortgage. 

Loan-to-value: 95% of the property value. 

Early repayment charge: For the first two-years of the mortgage.

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

Call Trinity on 020 7016 0790 to secure a low deposit mortgage. You can also email: enquiries@trinityfinancialgroup.co.uk

May 1, 2014

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