£700,000 buy-to-let remortgage to Birmingham Midshires for London based solicitor
Case details:
Our client was keen to remortgage in order to secure a better rate and repay some unsecured debt.
He wanted the mortgage to be arranged efficiently and with a minimal amount of fuss.
Solution:
As the rental income generated by the property was sufficient and the clients salary more than covered the £25,000 minimum income, Trinity submitted the application to secure one of Birmingham Midshires (BM Solutions) leading rates.
One of Trinity's senior brokers arranged for a mortgage offer to be produced in just over a week and the total process of switching banks to be completed in just under three weeks.
Property: Located in south-east London
Loan amount: £700,000
Rate: Two-year fix at 2.74% until 31/03/2017
APR: 4.6%
Lenders arrangement fee: £1,495
Mortgage term: 20 years
Repayment type: Interest-only
Loan-to-value: 50%
Reversion rate: 4.34% over the Bank of England base rate, currently 4.84%
Early repayment charge: 3% of the amount repaid until 31/3/2017 and 2% of the amount repaid until 31/03/2017.
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, call Trinity on 020 7016 0790. You can also email: enquiries@trinityfinancialgroup.co.uk.
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