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Our Case Studies Living in America, buying in London for £2.3million

Living in America, buying in London for £2.3million

The proposition

A Lancashire broker and member of a leading network was advising a high net worth client looking to buy property in London. Then the client was posted to America for work, receiving his income in US dollars. This made the case more complex, which is when the broker decided to use the largemortgageloans.com referral service.

Case profile

The client was looking to borrow £1.368 million on a purchase price of £2.28 million (60% LTV) on an interest only basis.

The solution

The whole mortgage application process was carried out without the client having to meet the private bank, which is quite unusual, as most private banks prefer to meet potential clients face to face. This meant that the process was rapid and did not require the client to return to London from his work in America.

Deal highlights

The best deal for the client was 1.49% over Bank of England Bank Rate (i.e. 1.99%) interest only for 5 years. Arrangement fees were just £5,472.

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 The rate displayed may become out of date at short notice.

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