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We were approached by a partner in a law firm looking for mortgage to purchase a new and larger property in London.

She wanted to borrow approximately five-times her salary and use income derived from unencumbered properties in her portfolio.

Case details and solution

Trinity found a lender happy to take five-times salary into consideration as well as part of her income from letting property.

After discussing the benefits of some of the lowest mortgages, she decided to take a two-year fixed rate in order to refinance in two-years time.

Property: Four bedroom house valued at £1.2 million in Ealing, London.

Loan amount: £650,000.

Lenders arrangement fee: £995 and added to the loan amount.

Rate: Two-year fix at 2.39%.

Reversion rate: Lenders standard variable rate, currently 4.74%.

APR: The overall cost for comparison is 4.4%.

Term: 25 years.

Repayment type: The mortgage was taken on a full capital repayment basis.

Loan-to-value: Approximately 54% of the property value.

Early repayment charge: 3% of the loan amount for two-years.

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

If you would like help to secure a mortgage to purchase a property, call Trinity on 020 7016 0790. You can also email: enquiries@trinityfinancialgroup.co.uk

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