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Banker bonus mortgage after being declined by HSBC. Our client asked for help to find a mortgage lender offering a low rate that’s happy to use her last year’s bonus. She wanted to borrow around five-times her salary to secure £650,000.

Case details

Our client asked for help to find a mortgage lender happy to take her bonus into account as she needed to borrow five-times salary to secure £650,000.

As a first-time buyer she initially approached HSBC for a mortgage, but they didn’t offer her enough money. She had a considerable bonus, but it wasn’t consistent enough over the last three years to meet their tight acceptance criteria.  

Solution:

Some of the mortgage lenders are much more generous than others and Trinity approached a bank willing to lend against her last and highest ever bonus.

The bank was offering a leading two-year fixed capital repayment mortgage over a 33-year term in order to make the monthly repayments as affordable as possible. 

Property: Two-bedroom converted flat

Mortgage:  £670,000

Rate: 1.54% fixed rate until 30/04/2017

APR: 3.7%

Lender's arrangement fee: £1,995 product fee

Mortgage term: 33 years

Repayment type: Mortgage taken on a capital repayment basis

Loan-to-value: 70%

Reversion rate: Lender’s standard variable rate currently 3.99%.

Early repayment charge: 3% of the loan amount until 30/04/2015 and 1% until 30/04/2017

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

If you would like help to secure a leading mortgage rate, call Trinity on 020 7016 0790

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