- £3.2 million mortgage on £4 million property
- Mortgage for high earning banking professionals
- Private bank agreed mortgage using large part of bonus income for affordability
Our clients asked for help to secure a higher loan-to-value large mortgage to purchase a property in London. Both of the applicants worked in the banking industry and had good incomes, but one of them received a large part of their salary through bonuses.
How did we help?
Trinity's broker contacted a private bank offering larger mortgage loans to wealthier borrowers often working in the banking industry. The lender provided a five times salary income multiple using the bonus income and the mortgage was agreed on an interest-only basis.
What was the rate?
A 2.79% rate fixed for five years, and after the fixed period, it reverted to the banks 3.54% standard variable rate. The overall cost for comparison is 2.6% APRC. The arrangement fee was 1%, and early repayment charges applied. The mortgage reverts onto a Bank of England base rate tracker.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation