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Case details:

Our client was keen to remortgage away from their current lender in order to secure a cheaper fixed rate.

As their property had increased in value of the last few years, they also wanted to raise additional funds to purchase a buy-to-let property.

Part of the reason they wanted to secure a low fixed rate was due to the elections next year and the uncertainty this could bring to the housing market. They were also keen to retain their interest-only mortgage payments, rather than switching to full capital-repayment.

Solution:

Trinity approached a mortgage lender with leading mortgage rates and an attractive interest-only policy.

We also raised the additional funds so the client could purchase the new investment property.

Property:  Located in south-east London

Loan amount:  £450,000

Rate: 2.69% fix until 03/09/2017

APR: 4.4%

Lenders arrangement fee: £995

Mortgage term: 25 years

Repayment type: £300,000 on interest-only and £140,000 on capital-repayment.

Loan-to-value: 70%

Reversion rate: 4.74%

Early repayment charge: 3% of the loan amount until 03/09/2017

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

If you would like help to secure a mortgage to purchase a property, call Trinity on 020 7016 0790. You can also email: enquiries@trinityfinancialgroup.co.uk

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