largemortgageloans.com are the team who just won’t quit; when a case lands at our door, the clients have often been told there isn’t a lending solution out there to suit them. However, our team have a wealth of experience and knowledge to find lending solutions were others can’t.
Case profile
We were approached by a client looking to remortgage their £1.5million 16th century property. Having already approached a number of high street banks, only to find repeat severe down-valuations on their property, they were beginning to feel frustrated. In addition, their income was being derived from foreign currency investments and the repayment vehicle for their interest only loan was a foreign currency share portfolio.
Solution
With a number of complexities to this case, Associate Director Dan Gracie engaged with a small building society who specialise in high net worth clients. Accustomed to working with older properties, they instructed a specialist firm of surveyors to value the property. They confirmed the valuation at £1.5m, allowing us to arrange the £1m loan that was sought after.
What’s more, the lender was comfortable with foreign currency investments. Dan was able to secure the interest only loan that was required by using the investments as a repayment vehicle.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.
