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Our clients asked for help to secure a fast mortgage offer to purchase an investment property in Shoreditch.

They were under pressure to complete after the previous buyer pulled out of the purchase to pursue a different house.

Solution

Trinity’s adviser approached a bank with excellent processing times and secured a mortgage offer in five working days. This enabled the clients to complete on the property within one month with the help of their fast moving solicitor.

The bank offered a competitively priced fixed rate mortgage with a relatively low arrangement fee, and a free property valuation.

As the clients were lawyers working in London, they comfortably met the £25,000 minimum income requirement. The rental income was also sufficient to get a large enough loan.

Case details

Property: House in Shoreditch

Value: £900,000

Mortgage: £605,000

Rate: 2.39% until 2 November 2018.

The overall cost for comparison is 4.3% APR.

Reversion rate: The lender’s standard variable rate, currently 4.49%.

Lender’s arrangement fee: £1,995

Repayment type: Interest-only

Loan-to-value: 67%

Early repayment charge: 3% early repayment charges until 2 November 2018.

Overpayments: 10% payment per annum without charge.

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

To arrange a buy-to-let mortgage call Trinity Financial on 020 7016 0790.

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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.

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