Are you an older borrower with a complex income structure looking for a large remortgage? We are experts at arranging large loans for high-net-worth clients who earn their income from various sources. We have private and specialist banking contacts to provide tailored solutions to suit your requirements.
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Our client, an HNW older borrower, was paying a high variable interest rate on his home, which was owned by his UK Limited Company. The client wanted to remortgage to a fixed rate on an interest-only basis to reduce payments and improve cash flow.
Our client’s income structure was complicated, being from an overseas family business in a country deemed high risk and a small buy-to-let property portfolio, hence sparse liquidity. Moreover, our client’s age was a concern – considered an older borrower, which traditional lenders tend to eschew due to concerns over meeting mortgage repayments.
We sourced funding from a private bank that was happy to lend to a limited company where the company owner lived in the property, with no assets under management, and using the client’s overseas income. They felt comfortable lending our client a mortgage on a fixed rate interest-only basis for the whole term as the client has many repayment routes in the UK & Overseas. The deal arranged using our long-standing private banking contacts saved our client a whopping £3000 on monthly repayments. Our client is overjoyed with their new mortgage terms and lower monthly repayments.