The director of a IT solutions company approached us looking for help to reduce the monthly mortgage payments on his home. Currently paying £2,200 per month (on his lender’s standard variable rate), he was hoping to secure remortgage onto a more competitive rate.

As well as running his IT business, the client is also a landlord with a portfolio of  20+ properties.

Many residential lenders will not lend to landlords with large portfolios, even if they also have a “day job” and aren’t reliant on the rent for income. So, we approached a high street bank, which we know, does not make this stipulation and is happy to include both the rent and the business income when calculating affordability.

The bank offered the client a rate which would reduce his monthly payments by a massive £671. Here are the details of the deal: