27 Jul 2021

Case study: 75% LTV mortgage for Partner’s holiday home

Investec Mortgage Intermediaries team

A partner at a top law firm wanted to secure a mortgage on a Grade II listed four-bedroom Georgian farmhouse property with two separate guest cottages to provide the family with a coastal retreat in the UK.

The client

A broker introduced us to a client who was a legal partner at a top law firm. While her income had increased dramatically in recent times, she had been promoted within the last two years which affected mainstream lenders’ affordability calculations.

 

The challenge

The client wanted to buy a countryside property in Cornwall. The property had four bedrooms and two additional holiday cottages which had the potential to be used as holiday lets. Retail lenders were concerned that the client may let out the cottages, which is why the client needed a bespoke HNW Private Banking solution.

 

The solution

Investec is able to evaluate each case on its own merits. We were able to assess the client’s wealth holistically and take future income into account in order to provide a 75% LTV mortgage fixed for a 15-year term. We worked quickly with our integrated credit team to help the client and her family secure their new home.

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