£700,000 remortgage to repay the Bank of Mum and Dad
What was the situation?
Our clients asked for help to secure a £700,000 remortgage on a home their parents helped them buy.
The professional couple worked for large firms in London and had been living with their parents while another family member was staying in their property.
What was the issue?
While they both had good jobs and higher incomes, one applicant was on a tier 2 visa. They had been living in the UK for two years, and they needed a lender with higher income multiples to raise enough money.
What was the process?
After assessing our client's payslips and overall finances, our broker searched the market for the most generous lenders.
Trinity Financial's broker found a bank offering competitively priced rates for professionals, and they were happy with the tier 2 visa status.
What was the solution?
After our client submitted all the necessary forms and the application was sent to a large bank, a mortgage offer for £700,000 was issued within two weeks on full capital repayment over a 25-year term.
They could also make 10% overpayments each year without charge, enabling them to make lump sum overpayments.
Lending solutions with Trinity Financial
Are you looking to buy a remortgage a property and require expert advice? We’re here to help you find a solution – no matter how complex your circumstances.
At Trinity Financial, 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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