The client works in investment banking is currently on secondment, living in Hong Kong. His lender had given him consent to let out his home – a 2-bed flat in London - but as his initial rate was due to expire, he was looking to switch to avoid the high reversion rate.
We were able to source a lender with a very competitive rate that was also willing to grant immediate consent to let. This meant that the client didn’t have to take out a buy to let mortgage (which costs more) and then have the hassle of refinancing again back onto a residential mortgage when he returns to the UK later this year.
Property value: £600,000
Loan amount: £450,000
Rate: 2.47% fixed for 2 years
Term: 25 years capital & interest repayment
Mortgage payments: £2,012 pcm
Lender arrangement fee: £999
Completion date: Est. March 2015
This is just one example of how I've helped a client secure a residential mortgage. To see more of my case studies please visit my profile page. And if you have any funding requirements, please do not hesitate to contact me. My direct line and email address can be found below.