A broker approached Investec to support a high-net-worth client who was looking to purchase a three-bedroom flat in North West London for £1.9m as a second home. The client was a Partner at a law firm with a complex income structure.
As the client was retaining his primary residence, he needed a high loan-to-value (LTV) mortgage with the ability to make capital reductions to reduce the loan over time. The client’s income structure consisted of a monthly salary and deferred profit shares and this complexity needed to be considered to give an appropriate view of affordability. In addition, the client was time-poor so required an efficient solution.
Investec was able to provide a 90% LTV mortgage for the client’s second home with capital reductions payable during the first five years to reduce this LTV. The client had an existing relationship with Investec Wealth & Investment and this helped us take a holistic view of his financial situation and find an appropriate solution. Using dual legal representation – with the same lawyer acting for Investec and the client – added to the efficiency of the transaction.
We have a long track record of working with individuals with complex lending needs, including those with careers in law. If you have a client with similar mortgage needs, please don’t hesitate to get in touch with our team.
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