- £3.5 million mortgage with offset facility
- Paid in US dollars and receiving large bonuses
- Existing private bank did not provide offset facilities
Our clients had agreed to purchase a £6-million property in London and required a £3.5 million mortgage with an offset facility. They approached their existing private bank to ask for a new and more flexible mortgage, but they were told it would not be possible.
The couple were traders working for different firms, but one of them was expecting to be made a partner soon and needed access to funds to buy into the company. As a result, they wanted to have access to a large amount of cash while reducing their mortgage costs. The couple received bonuses and wanted to put them in an account linked to their mortgage.
How did we help?
There are not that many lenders offering £1 million+ offset mortgages to clients receiving large bonuses and foreign income, but Trinity’s broker knew which private bank to approach. He confirmed how cheap the rate would be and explained the documentation we would require. The mortgage was agreed quickly to the banker assigned to us.
What was the rate?
1.70% over the Bank of England base rate and the arrangement fee was 0.35% of the loan amount. The overall cost for comparison is 3.3% APRC.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation