Bespoke €1.6million mortgage arranged for holiday home

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Thursday August 25, 2016

Need a large foreign currency mortgage for a holiday home? 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 or complex mortgage case, please contact us on 020 7519 4984 or email us.

Case Profile

Our client was looking to purchase a holiday home in Ibiza. However, due to his employment status, finding a foreign currency mortgage was a challenge.
Our client had recently left his job and although the employer had agreed to pay him his usual salary for the next 12 months, including his bonus, he was effectively unemployed. For this reason most lenders were only willing to give him a 12 month mortgage term, as his regular income would cease after a year.


We were able to place a million pound plus mortgage for the client through one of our private banking contacts in Spain. A bespoke deal was created for the client after we presented the client’s case to the lender. We were successful in obtaining a formal credit sanction for the full loan amount.
The lender took a view on the client’s employment situation based on his historical income and his ability to earn income in the future, given his experience. In addition, the client has considerable equity tied up in his main residence in London, as well as a large investment portfolio.

He will use the yield from his investment portfolio to service the interest of the loan. He was also able to transfer assets to the value of €500,000, which were held on account with the bank for additional comfort. These were, however, not pledged to the bank and our client has full access to these at any time.

Deal Highlights

Loan amount:€1,610,000
Rate:2% fixed rate for whole term of 15 years
APR:Overall cost for comparison 2.5% APR representative variable
Term:15 years
Type:Capital and Interest Repayment
Loan purpose:Purchase
Lender’s arrangement fee:1.5% of loan amount
Early repayment charges:No penalty for full or part repayment at any time throughout the loan including during the fixed rate period


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 2.5% APR representative variable based on 15 years at 2%. Lender’s arrangement fee of 1.5% of the loan amount. The actual rate available will depend on your circumstances. Ask for a personalised illustration.

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.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home. is a trading name of Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.
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