skip to main content

Request a call back

Leave your contact details and one of our expert advisers will call you back shortly.

You can also complete our mortgage questionnaire for a more accurate initial response.

Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.

Menu

Case details

Our client wanted to expand her property portfolio and purchase another investment flat in Scotland.    

As she already owned a buy-to-let property in London that had increased in price over the last few years, she planned to release some of the equity and buy another property in cash.

Solution

The property she was remortgaging was on a standard variable rate and it did not have any early repayment charges. This enabled us to approach other banks with more competitive rates.

Our adviser arranged a remortgage to pay off the existing £150,000 mortgage. He also secured an additional £200,000 - raising the loan amount to £350,000. 

Once the mortgage completed and the funds were transferred, our client used the cash to buy the new property outright.

Source: Existing client referral

Property: Three bedroom flat in London

Value: £700,000

Mortgage: £350,000

Rate: 2.19% fixed until 31/10/2017

The overall cost for comparison is 4.3% APR 

Reversion rate: Standard variable rate currently 4.49%

Lenders arrangement fee: £1,995

Mortgage term: 20-year term

Repayment type: Interest only

Loan-to-value: 50%

Early repayment charge: 3% before 31/10/2016, 2% before 31/10/2017 

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

For help to release funds from your buy-to-let property, call Trinity on 020 7016 0790.

Get in Touch

Get in touch

To arrange a meeting with one of our expert mortgage advisers complete our enquiry form 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.

Need some advice today?

Book a Consultation Mortgage Questionnaire