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.
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.
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
Rate: 1.54% fixed rate until 30/04/2017
Lender's arrangement fee: £1,995 product fee
Mortgage term: 33 years
Repayment type: Mortgage taken on a capital repayment basis
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