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Our client asked for help to find a lender willing to use his income even though part of it was paid in US Dollars.

Working as a director of a multinational company and regularly travelling overseas, he required a £1.4 million mortgage to purchase a new family residence in Surrey.

His basic salary was paid in GBP but he also received a large bonus paid in US Dollars.

Trinity Financial’s broker found a high-street bank who could accept up to 75% of the bonus income and they were happy to offer the full amount required.

The bank provided a selection of highly completive rates with low arrangement fees.

Case details

Property type: Detached house

Value: £1,400,000

Mortgage: £1 million

Rate: 1.99% fixed until 02/06/2023

Reversion rate: The bank’s standard variable rate, currently 3.75%.

The overall cost for comparison is 3.1% APRC representative.

Lender’s arrangement fee: £999

Mortgage term: 25-years

Repayment type: Full capital repayment

Loan-to-value: 75%

Early repayment charge: 5% until 02/06/2023

Overpayments: 10% per annum allowed

Representative example: A mortgage of £1,000,000 payable over 25 years, initially on a 1.99% fixed rate until 02 June 2023 and then on a variable rate of 3.75% for the remaining 20 years, would require 62 monthly repayments of £4,233.67 followed by 238 monthly repayments of £4,960.56. The total amount repayable would be £1,444,093.50 made up of the loan amount, plus interest (£329,465.80) and fees of £999. The overall cost for comparison is 3.1% APRC representative.

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

Call Trinity Financial on 020 7016 0790 to secure a foreign income mortgage

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