- £750,000 mortgage fast-tracked through higher value lending team
- First-time buyers using 4.75 times salary multiplier
- 2.14% two-year fix secured with 15% deposit
Our clients were living in rented accommodation and they had found a property to buy. One of the applicants was a marketing manager, and the other was a financial analyst. They had also recently had a baby.
Why was it difficult?
To secure a large enough mortgage, we needed a lender to take 4.75 times their joint incomes while offering a competitively priced five-year fix available to first-time buyers with a 15% deposit.
How did we help?
Trinity contacted the larger loan lending team at a bank and they quickly assessed the application. They were happy to provide the 4.75 times salary multiples using the return to work income for the borrower on maternity leave. As our clients had lost out on their last property, we contacted a lender working quickly to secure a prompt mortgage offer.
What was the rate?
The mortgage was a 2.14% rate fixed until 31/12/2022, and after the fixed period it reverted to the banks 3.59% standard variable rate. The overall cost for comparison is 3.4% APRC. The arrangement fee was £995 and early repayment charges applied. The mortgage had a 25-year term.
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation