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Key features:

  • £950,000 mortgage for German client
  • He was living in the rental property he was buying
  • 10% deposit and five-times salary
  • Mortgage provided by lender not available to most brokers

The client:

Our client worked for a multinational firm in Germany for ten years and relocated to the company's London office.

He found a property he wanted to buy and unusually the vendor allowed him to rent it providing he purchased the house within three months.

What was he looking for?

A £950,000 mortgage to purchase a £1.3 million detached property with a 10% deposit. 

He wanted guidance to find a mortgage because he had recently moved to the UK and did not have a credit footprint.

Why was it difficult?

As he was already living in the property, many of the lenders were not keen to provide a mortgage.  He also required a five times salary product using 100% of his variable bonus paid every quarter.

How did we help?

Trinity approached the bespoke lending department at a high street bank not available to most brokers.

Even though our client’s bonus was not guaranteed, he had a wife who was looking for a job and a young child, the lender agreed to provide a five-times salary mortgage using his basic and bonus income.   

We secured a £950,000 mortgage even though the client had a 10% deposit.

What was the rate?

A fixed-rate of 1.87% until 30 June 2021. The overall cost for comparison was 4.4%.

The product had a £995 arrangement fee and after the fixed period reverted to the lenders 4.74% standard variable rate.     

Call Trinity Financial to secure a large mortgage loan

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