After finding Trinity’s contact details via a Google search, our client asked for help to secure a £700,000 mortgage to buy a country house in Gloucestershire.
As he was living in rented accommodation and his offer had been accepted, he wanted a mortgage agreed as quickly as possible.
He received a generous basic salary but a large part of his income was through a profit related scheme. He also required us to find a lender happy to accept his bonus income.
We approached a bank with low mortgage rates and fast processing times.
They were willing to accept up to 50% of any bonus income and were happy to lend if clients have profit related pay.
As the property was older and in a rural location, we also asked our buildings insurance specialist to provide a thorough insurance policy to ensure they were fully protected.
Property: Large country house in Gloucestershire
Rate: 2.19% fixed until 31/07/2018
The overall cost for comparison: 3.6% APR
Reversion rate: Standard variable rate - currently 3.99%
Lenders arrangement fee: £995
Mortgage term: 22-year term
Repayment type: Full capital repayment
Early repayment charge: 3% before 31/07/2017 and 1% until 31/07/2018
Overpayments: Up to 10% of the outstanding balance can be repaid without charge each year using the balance as at the 1st January.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
If you would like help to buy a country house, call Trinity on 020 7016 0790.