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Our clients          

Our clients had found a property they wanted to buy, but they were keen to keep their existing property and switch it to a buy-to-let

The main income earner worked in IT technology, and his wife was a homemaker. The couple owned another investment property and wanted to use the rental income to boost their affordability.  

Why was it difficult? 

We had to find a lender that would use the husband's income, plus the rent from the existing investment property, to meet affordability. They also had to allow the let-to-buy in the background.  

Due to the oldest applicants' age and income, we needed the mortgage term to go past the age of 70 and offer a 25-year term. Both products would be 65% loan-to-value.

How did we help?    

Our broker found one large bank offering great rates and it provided both mortgages using their salary, plus the rental income generated from the buy-to-let. Their home was switched to a buy-to-let because the rent was sufficient to cover the mortgage repayments.

Both mortgage offers were produced within two weeks.  

What were the rates?     

The residential rate was below 1.5%, and the let-to-buy mortgage rate was priced just over 2%. The residential rate had a £1,495 arrangement fee, and the buy-to-let had a £995 arrangement fee. Both rates reverted onto the lenders 4.34% standard variable rate. 

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

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