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Key features:

  • 5.75 x salary mortgage
  • 33-year mortgage term to reduce monthly repayments
  • Mortgage without early repayment charges

Our clients:

Our clients had found a property they wanted to buy and needed an income stretch mortgage to borrow enough money. The couple were joint owners of a marketing firm and had a young family. 

What were they looking for? 

They were looking for a lender providing more generous mortgages for company directors with a 25% deposit.

Why was it difficult?

Most lenders cap their income multiples at five times salary or 5.5 times salary for clients earning over £75,000. Most banks and building societies are not willing to provide 5.75 times salary mortgages. 

How did we help? 

Trinity's broker found a lender willing to offer £35,000 more than any other bank or building society charging competitive rates. The building society used their last two years SA302’s as evidence of income and requested six months bank statements.

What was the rate?

A variable rate, currently 5.99%, with a discount of 4.20% giving a current rate payable of 1.79% until 28/02/2022. This is followed by a variable rate which is 1.50% below the lender's standard variable rate, currently 5.99%, giving a current rate payable of 4.49% until 28/02/2025. The overall cost for comparison is 5.1%. There were no early repayment charges.

Call Trinity Financial on 020 7016 0790 to an income stretch mortgage

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To arrange a meeting with one of our expert mortgage advisers complete our enquiry form or mortgage questionnaire and we will call you back. Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

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