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Our Case Studies High net worth client with multiple income streams needs £1.26 million mortgage

High net worth client with multiple income streams needs £1.26 million mortgage

The proposition

A financial adviser needed specialist help to fund a complex £1.26 million mortgage solution for his high net worth client, who needed to quickly refinance his residential property on which he owed £750,000.

Case profile

Although the LTV was only 60%, the client is involved in various companies, including start ups, and therefore has various revenue streams, which high street lenders find difficult to accommodate.

The solution

From its close relationships with over 35 private banks, largemortgageloans.com found a foreign bank that which was willing to lend to 60% LTV, enabling the client to repay the £750,000 loan and borrow the extra £510,000 needed. For security the bank required the client to place £50,000 on deposit to cover any low income periods, but the client was able to take the £50,000 from the loan proceeds, which suited his cash flow.

Deal highlights

For a complex deal, the mortgage was negotiated at attractive terms; £1,210,000 interest only at 2.20% over three month LIBOR and £50,000 interest only at 1.65% over the foreign bank’s base rate which is currently 1.5%.

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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 The rate displayed may become out of date at short notice.

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