There is no such thing as ‘typical’ with our mortgages. Here are a couple of our recently completed deals.
Case study 1
Director and shareholder of a fund administration company with total remuneration in excess of £200,000.
Immediate requirement for a flexible solution whereby the client could release funds from an existing unencumbered property to purchase a new prime residence.
A five year interest only mortgage was provided on the new property together with a 12-month bridging facility to be repaid from dividend income and the sale of the former home.
Client was able to secure the purchase of a rarely available property.
Case study 2
Former finance executive with a current income in excess of £100,000 from business and commercial premises let out to grade A tenants on a long lease
Immediate requirement for a flexible solution whereby the client could refinance the prime residence and release additional funds to finance the building of the new property for retirement.
A three-year interest only mortgage was provided on the current property. Interest serviced from commercial rental income and, once the new home is built, repayment from the sale of the current property.
The client was able to use their existing assets to obtain suitable funding to build a new home for retirement.