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

Key features:   

  • Client remortgaged away from Metro Bank to get a better rate
  • Case agreed through bespoke underwiring team after initially failing affordability  
  • 2.24% five-year fix on interest-only with option to make overpayments 

Our client  

Our client asked for help to secure a new fixed-rate mortgage after his existing lender offered him uncompetitive terms to remain with the bank once his fixed-rate expired. He was an employed IT director keen to swap to interest-only to reduce his monthly outgoings, but he wanted a great deal. The client was in his 60’s and required a shorter term. His house was worth just over £900,000. 

How did we help?        

Trinity's broker researched the market to check with lenders who were offering competitive interest-only deals using the property's sale as the repayment vehicle. After running the client's income and expenditure through one of the most generous interest-only lender's affordability calculator the applicant did not qualify; so he called the bank and got the application agreed as an exception.  

The lender provided a ten-year term with a free property valuation and legal fees service to reduce the cost of switching. 

What was the rate?           

A 2.24% rate fixed until 30/04/2026, and after the fixed period, it reverted to the banks 4.55% standard variable rate. The overall cost for comparison was 3.1% APRC. The arrangement fee was £1,499, and early repayment charges applied. Up to 10% of the mortgage could be repayment each year without charge. 

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

Get in Touch

Get in touch

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