Top Slicing Facility Provides Solution for Asset Rich Client

Tuesday November 20, 2018

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Case Profile

Our client was looking to rent out their home and raise capital on the property in order to buy a new residential property. The client was looking to secure a mortgage of £2.5 million across both assets.

Our client had a significant portfolio of assets with a net total value over £10 million but was drawing low levels of income from their investment portfolios. The disconnect between the assets and income meant that our client needed a bespoke solution because, despite their assets, their needs could not be met by a standard lender.


We approached a progressive private bank to raise both mortgages, as they were able to offer a ‘top slicing’ facility, meaning they used the total assets as a method to cover the interest payments on the mortgage. They were also able to offer a full interest only facility for both mortgages and produced an offer within three weeks.

The client was both surprised and delighted that we could source a solution at an excellent rate on an interest only basis.

Deal Highlights

Loan amount:£2,500,000 (across 2 properties)
Residential purchase rate:2.39% 2 year fixed rate
Buy to let remortgage rate:2.95% 2 year variable rate
Residential purchase APRC:Overall cost for comparison 3.30% APRC representative variable
Buy to let remortgage APRC:Overall cost for comparison 4.30% APRC representative variable
Term:5 years
Type:Interest only
Loan purpose:Remortgage current residential onto Buy to Let / New residential capital raise purchase
Lender’s arrangement fee:0.7% of total loan amount
Early repayment charge:2% of the outstanding loan amount in year 1, and 1% in year 2.


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 The rate quoted may become out of date at short notice and may not be available at the point at which customers enquire about it.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 for the purchase is 3.30% APRC representative variable based on 25 payments at a lenders fixed rate, currently 2.39% , followed by 35 payments at the lenders variable house mortgage rate, currently 3.50%.

Overall cost for comparison for the Buy to Let is 4.30% APRC representative variable based on 25 payments at the lenders variable rate, currently 2.19% above the lenders house rate, followed by 35 payments at the lenders house variable rate, currently 4.75%.  Because all, or part of, the mortgage is currently, or will revert to, a variable interest rate mortgage, the actual APRC could be different from this APRC and the payments could increase if the interest rate of the loan changes. For example, if the interest rate rose to 11.50%, the APRC could increase to 12.50%. 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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