£610,000 interest-only remortgage for capital raising couple with £1.4 million home
Trinity Financial recently helped our clients to raise additional funds after their existing bank refused their request to borrow more.
Their fixed-rate mortgage was ending, and they wanted to raise £30,000 for home improvements on an interest-only basis, but their lending told them it would not be possible.
They were keen to secure another interest-only mortgage and a better five-year fix than their lender offered them. They worked in the IT sector and received large bonuses.
How did Trinity Financial help?
Our broker researched the market and found a lender offering competitively priced interest-only mortgages with more generous maximum ages.
The lender offered them a great five-year fix and a 14-year term based on the oldest applicant's age, taking them to 75. The mortgage was interest-only, and the lender was happy to give them the extra £30,000 they required.
Our broker submitted the mortgage application on the same day the client made their enquiry. We had received a notification that the bank was putting its rates up, so they provided us with the forms we needed to secure their rate.
Their new five-year fix was cheaper than their previous mortgage, so the monthly payments were lower even with the additional £30,000.
Call Trinity Financial on 020 7016 0790 to secure a faster mortgage offer or book a consultation