£1.5 million mortgage for solicitors buying family home
Trinity Financial recently helped two solicitors buy their first family home after they found our contact details online.
They had an offer accepted and wanted advice on the most competitively priced rates for higher-earning individuals requiring larger mortgage loans.
Did they have a complex situation?
Our clients were both employed solicitors with high salaries, and they had a £300,000 deposit. This meant they were well within affordability and would qualify with multiple lenders.
Trinity’s broker researched the rates being offered across the £1 million+ market and found a large bank offering a competitively priced two-year fixed rate. This lender is very keen to attract wealthy borrowers and it has a range of larger loan rates.
Our broker submitted their mortgage application once they had received their client's documents and confirmation to proceed. The lender's large loan team swiftly accepted it and was happy to offer the mortgage.
Was the rate particularly good?
Mortgage rates were higher than they are currently, and they have been trending downward. We initially locked in a rate just above 4.6% fixed for two years, and switched the mortgage offer twice, bringing the rate down to below 4.25% a few days before they needed to exchange contracts and complete their purchase.
How long did it take to produce the mortgage offer?
The initial mortgage was offered within three working days. The lender has a specialist team to assess and provide mortgages for £1 million or more.
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.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
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