The client: A young accountant looking to purchase her first home after years of renting. With a busy work life, she didn’t have the time to focus on finding the best mortgage so came to us for help.
The property: A 3-bed, semi-detached house in sought after commuter village in Surrey.
The finance: The client’s deposit was made up of personal savings and a cash gift from her parents, the total equated to just over 25% of the purchase price.
The application process: As the client was away on business, we carried out all correspondence via email. We worked with the client to complete the application form and collate the supporting documentation, which included three months' bank statements, proof of address and proof of identity.
Happy with her income and history of reliable rental payments, our chosen lender presented us with an offer within one month of submitting the application.
Here are the details of the deal:
Property Value: £385,000
Loan Amount: £280,000
Rate: 1.79% 5 year fixed mortgage
Term: 25 years capital & interest
Lender arrangement fee: £1,499 added to loan amount
Mortgage payment: £1,158 pcm
Consultant Mortgage Adviser: Charlie London
3rd April 2018