Mortgages for Business is committed to keeping both our staff and clients safe during the COVID-19 outbreak while maintaining the best service possible. Our teams are working from home, but don’t worry, you can still contact us in the usual ways.
To read our comprehensive FAQ guide on how the emergency interest rate reduction and Coronavirus outbreak could affect your mortgage, please click here.
If you want to request a payment holiday, please contact your lender directly. For lender contact details, click here.

Self-employed electrician remortgages home saving £80 pcm

We were approached by an electrician who was looking to remortgage his home – a four-bed detached house in Cheshire.

Having reached the end of the initial rate period on his existing mortgage, he was keen to refinance onto a lower rate to reduce his monthly payments.

The client was under the impression that qualifying for a new rate with a different lender would be a challenge due to his self-employed status – this is not the case.

The majority of rates are available to both employed and self-employed individuals.

We were able to secure a very competitive tracker rate at 1.44%, saving the client just over £80 pcm.

Here are the details of the deal:

Property value: £300,000

Loan amount: £141,000

LTV: 47%

Rate: 1.44% term tracker

Term: 30 years capital and interest

Lender arrangement fee: £995

Mortgage payment: £442 pcm

Previous mortgage payment: £525 pcm

Consultant: Andy McOwat, 01625 416396


Scroll down for more case studies from Andy McOwat.

Consultant

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Get in contact with us: 0345 345 6788 or ...

Submit an enquiry
Arrange a call back