Our Case Studies
Our Case Studies £2.9million remortgage arranged for clients requiring an exit from a bridging loan

£2.9million remortgage arranged for clients requiring an exit from a bridging loan

Need a multi-million pound private bank remortgage? We have the banking contacts to provide a tailored solution where other lenders may not be able to help. To discuss this or any other large mortgage case, please contact us on 020 7519 4984 or email us.

Case profile

Our High Net Worth client wanted to refinance their home as the bridging facility they had initially taken out to purchase the property was coming to an end. However, due to the complex nature of the client’s income, arranging a mortgage was a challenge.
They had purchased the residential property, in the UK, for £6.2million via a bridging facility, which was coming to an end and needed refinancing to a mortgage.

The challenge came from the fact that the client’s income is derived from numerous global sources. This made it difficult to verify the client’s source of funds due to the complexity of the income structure and the amount of documentation required from various global sources.

Solution

Through our broad range of contacts in private banks and specialist lenders we were able to find a lender who was able to take a pragmatic approach to the client’s circumstances and to process the necessary documentation.

We were able to evidence the client’s stable liquidity position going forward, after providing the lender with 5 years of interest payments upfront. Using this pre-paid interest facility we arranged the mortgage at a much lower rate.

The client was happy with this solution and was able to refinance the bridging loan to a mortgage on their home.

Deal Highlights

Loan amount:£2,900,000
Rate:3.24%
APR:Overall cost for comparison 3.3% APR representative variable
LTV:47%
Term:5 years
Type:Interest only
Loan purpose:Residential remortgage
Lender’s arrangement fee:1% of the loan amount
Early repayment charges:5% in year 1, 4% in year 2, 3% in year 3, 2% in year 4 and 1% year 5

Notes

This case study is for information and illustration purposes only. It is not an offer, or suggestion of an offer. Each mortgage case is assessed on an individual basis and there is no guarantee that the solution described here can be repeated in the future.

Please note that this specific deal may not be available to – or suitable for – all customers, dependent on their individual circumstances. The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it. This document may not contain all the information needed for customers to make a decision and they should seek advice.

Overall cost for comparison 3.3%APR representative variable based on 5 years at 3.24%. Lender’s arrangement fees of 1% of the loan amount. The actual rate available will depend on your circumstances. Ask for a personalised illustration.

largemortgageloans.com is a trading name of largemortgageloans.com Ltd. A fee of up to 1.17% of the mortgage amount is payable, of this 20% is payable on application and the remainder on completion, e.g. on a mortgage of £1,000,000 the fee would be £11,700 of which £2,340 would be payable on application and the remainder of £9,360 on completion. The precise amount will depend on your circumstances.

Your home or property may be repossessed if you do not keep up the repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt.

Return to Our Case Studies

This Month’s Top Fixed Rate

Fixed rate
Initial rate: 1.35%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.46%

Get This Rate

This Month’s Top Variable Rate

Variable rate
Initial rate: 0.97%

Period: 2 years

Rate will revert to a variable rate, currently 4.99% thereafter
The overall cost for comparison is 4.37%

Get This Rate

Some of this month's top interest rates are listed above; the actual rate will depend on your circumstances. Please note that this information does not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration on 020 7519 4900. The rate displayed may become out of date at short notice.

Latest Articles/News

Case Studies

Successful negotiation of a bespoke, multi-million pound lending solution A…

Latest/Related News

It’s been an incredibly busy week, with the action beginning on Monday wi…

Press Release

States proposal to waive document duty on bonds hailed as a victory for mor…

Press Coverage

Could a retirement mortgage help you stay in YOUR home?…

LML Brochure

Download our brochure to find out more about Largemortgageloans.com and what we can offer

Click to Download

Sign Up

Subscribe now, to hear from us on the latest mortgage market news, products and services.

Client Testimonials

Close

Live chat with
our team now

Chat

LargeMortgageLoans.com