Super-fast mortgage offer for Army officer buying first home

Trinity Financial's broker recently secured a mortgage offer on the same day the application was submitted to a large bank, for an Army officer buying his first property. The bank offers low rates, provides excellent service, and has a good permission-to-let policy. 

What did he do for a living?

Our client is a commissioned officer in the British Army.

Did he have a complex situation?

Quite simple, actually. Just needed to consider the lender’s criteria around an officer who could be sent out abroad and leave the property unoccupied. Also, with the option to let the property out on a short-term basis if he was posted overseas to try and cover the monthly mortgage repayments.

Was he in a rush to complete?

Not in a rush; however, as a soldier, he was extremely efficient and organised, getting all the information and documentation we required back to us.

Why did he need our help?

He just wanted to use a broker to ensure he got the best deal that suited his financial situation and job role.

Did we struggle to find a lender? 

No. We ended up going with a large bank over a slightly smaller one with a marginally higher rate because it required the client to live in the property full-time. The bank to which the application was submitted allowed our client to rent out their property if they are out of the country with the army.

Was the mortgage on interest-only or capital repayment? 

• Capital repayment to ensure the mortgage would be repaid.
• 25-year mortgage term.

Was the rate particularly good?

The second best on the list is a five-year fixed rate at just over 4% with a 15% deposit.

How is it possible to get a same-day mortgage offer? 

If a bank or building society deems the client as low risk and the property passes its online checks, it can provide very fast mortgage offers. This is when all the documentation lenders request is provided by the client/broker, and the applicant has a good credit score. 

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