Remortgage and capital raised in advance of property purchase

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Wednesday May 25, 2022

Have you considered raising capital for an investment property to negotiate a better price? We are experts at arranging large loans for unspecified properties.

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Case profile

Our client was looking to remortgage their home and raise capital in advance of finding an investment property to buy, which would help them secure a better deal as a cash buyer. The sole earner received a basic salary bolstered by significant quarterly bonuses. Our client wanted to use an interest-only facility and to borrow as much as possible.

 Solution

We used our experience and contacts to find lenders offering the highest loan-to-value, which we then whittled down to the most suitable lender by scoping out who could assist with quarterly bonuses in excess of a basic salary and who could provide a five-year fixed rate.

We sourced a lender who was comfortable lending £976,000 over a 21-year term, with £750,000 to repay the current mortgage and £226,000 raised for the new purchase. We provided them with a loan to value of 80% and borrowed 50% of the value on an interest-only basis with the remaining 30% on repayment. All was secured at a competitively low fixed for five years.

To discuss this or any other large mortgage case, please contact us.

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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.  

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