£1.2m interest-only product transfer rate switch for city trader

by Aaron Strutt

Jul 01 2025

Trinity Financial recently arranged a £1.2 million product transfer for an existing client nearing the end of his fixed-rate.

Working as a city trader a large part of his income is paid in bonuses and he wanted to get a competitively priced two-year fix but remain on interest only.

Did they have a complex situation?

Our client had a large salary, and mortgage affordability was not an issue; however, he had £1.2 million on interest-only, which put him at a 75% loan-to-value ratio. This meant he did not have many competitively priced remortgage options available to him. 

He was not planning to move home and had been making lump-sum overpayments to bring down the mortgage balance.

Was the rate particularly good?

He was offered a two-year fixed rate at 3.92% with his bank to stick with them which was a better deal than the one he had before. He took the two-year fix because he thought rates would be cheaper in two years.

Trinity's broker researched the market and was unable to find a suitable mortgage that offered a more competitive price.  He submitted the mortgage application when the client confirmed he was happy to proceed.

How long did it take to produce the mortgage offer?

A product transfer mortgage offer is typically issued on the same day as the application is submitted via brokers like Trinity Financial. 

Lending solutions with Trinity Financial

Are you looking to buy a property and require expert advice? We’re here to help you find a solution – no matter how complex your circumstances. Our expert brokers have extensive experience providing creative solutions to secure mortgages for our clients.

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

The information contained within was correct at the time of publication but is subject to change.

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