As a high net worth individual with complex income sources, it’s crucial to periodically review and “spring clean” your mortgage and finances to ensure they continue to serve your best interests. At largemortgageloans.com, we specialise in arranging large loans for wealthy clients, utilising our extensive private banking contacts to provide tailored solutions that suit your unique requirements.
To demonstrate the power of reviewing and optimising your finances, we’d like to share a recent case study that highlights the importance of reassessing your mortgage, especially for those with complex income sources. We re-negotiated an £18m deal for our clients, resulting in savings of over £150,000 in interest charges.
We were approached by a high-profile, international client with a significant net worth, who owned a portfolio of London properties. The client wanted to review their finances in order to remortgage their existing portfolio to raise equity for purchasing an additional property. The deal involved a cross charge over three properties, one being the client’s UK primary residence.
Initially, the client had been offered terms by a private bank they had a long-standing relationship with. However, they approached us to leverage our expertise to see if we could secure better terms for them. We not only approached other banks but also revisited the client’s existing private bank to negotiate on their behalf.
Our efforts paid off, as we successfully renegotiated terms 0.2% lower than what the client had initially achieved, resulting in savings of over £150,000 in interest charges. Additionally, we arranged for the bank to lend the client extra funds for the stamp duty on the onward purchase – an uncommon offering among lenders. The client was delighted with the savings and preferred to maintain their existing banking relationship.
This case study showcases the significance of reviewing your mortgage and finances, as doing so can uncover opportunities to save substantial amounts and optimise your financial situation.
If you’re interested in discussing this case or any other large mortgage scenario, please don’t hesitate to contact us. Our team of experts can secure the best mortgage rates with the best mortgage lenders to help you revitalise your wealth and ensure your financial strategy aligns with your goals.
Looking forward to helping you unlock your financial potential this spring!