Key facts:
- Central London property
- Property value: £13,000,000
- Loan amount: £9,100,000
- LTV: 70%
- 1.24% above BoE base rate
- Interest-only mortgage
In this case, we were approached by a client who was looking for a refinance solution. The client was a successful business owner and had accumulated his wealth in the entertainment industry.
More specifically, the client was looking to refinance his current residential property in order to raise money to reduce his more expensive buy-to-let borrowing. Read more about residential bridging loans.
More than 10 years of operating in the large mortgage sphere have allowed us to build up a wealth of contacts across the property industry. This allows us to introduce a degree of competition when negotiating the best terms. Also, we know who to approach for different situations, how to approach them and the type of information required.
As such, we arranged a high loan to value (LTV) of 70%. The high value mortgage was offered at a competitive interest rate, resulting in considerable savings for the client.
It is fair to say this particular client was extremely satisfied with the outcome and the very short turnaround time.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
