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Free valuation, £500 cash back and 1 month turnaround for first-time buyer

Free valuation, £500 cash back and 1 month turnaround for first-time buyer

20.02.18 | Written by: Pete Coombes

The client: A single mother currently living in rented accommodation, looking to purchase her first home. As well as looking after her young son, the client is in full-time employment as an analyst.

The property: The mother of one had set her sights on a two-bed terraced house in Leicester, a five minute walk from her current residence.

The finance: The client had been gifted a deposit from her parents in Portugal. Because of this, we needed to source finance from a lender which would be willing to accept gifted deposits from overseas.

Keen to keep the upfront costs down, the client had requested we approach a lender which allows the arrangement fee to be added to the overall loan amount.

We took the case to an intermediary only lender which offered our client a competitive five-year fixed rate with some added benefits…

A free valuation, £500 cash back and a flat arrangement fee of £749, which could be added to the loan amount.

We worked closely with the client, the lender and the legal team to get the mortgage offered as quickly as possible. As a result the entire deal from offer to completion within a month.

Property value: £130,000

Loan amount: £100,000

LTV: 77%

Rate: 2.14% (3.5% APRC) 5-year fixed rate

Term: 16 years capital and interest repayment mortgage

Mortgage payment: £621pcm

Lender arrangement fee: £995

Consultant: Pete Coombes, 01732 471668

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 ...

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