Skip to Main Content

Self-employed accountant remortgages Help to Buy home and reduces monthly payments

The Client: A young accountant approached us for help to remortgage her home which she had purchased five years before using a Help to Buy Equity Loan which she was looking to repay.

Since purchasing her home, as well as working as an accountant, the client and her brothers had built up a small portfolio of rental properties.

The Property: A three-bed, semi-detached house in Surrey which was brand new when the client bought it.

The Finance: When talking through her requirements, the client requested:

  1. A five-year fixed rate to protect her against any interest rate rises in the near future.
  2. A 35 year term to keep monthly payments down

With these in mind we approached the intermediary arm of well-known building society and obtained an Agreement in Principle.

The Application Process: We sent the client a checklist of documents that would be required by the lender in support of her application. This included proof of ID, address and income.

To the client’s delight the offer not only allowed her to repay her loan, but also reduced her monthly payments by £20 a month – every little helps!

 

Property Details

Property Value: £470,000

Loan Amount: £255,000

LTV: 50%

Rate: 1.79% 5 year fixed rate

APRC: 3.88%

Term: 35 years

Lender arrangement fee: £1,224 added to loan amount

Mortgage payment: £818 pcm

Consultant mortgage adviser: Ashley Jones,  01732 471694 or 07853829939

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

Mortgages for Business Ltd is registered
in England and Wales No. 2502713.

Registered office:
17 Kings Hill Avenue,
Kings Hill, West Malling,
ME19 4UA.

© Copyright 2023. All rights reserved.

Mortgages for Business Ltd is authorised and regulated by the Finance Conduct Authority (No. 313537) to transact regulated mortgages. We are a credit broker, not a lender. We work with the whole of market in sourcing a lender for you; we may receive a commission from the lender, and this amount varies between lenders. The FCA does not regulate some investment mortgage contracts. Mortgages for Business Ltd is a founding member of the National Association of Commercial Finance Brokers, the body that promotes best practice within the commercial finance industry. Telephone calls may be monitored or recorded for training purposes.

NACFB