Case study: Interest-only mortgage for primary London residence
10 Nov 2020
The clientWe recently worked with a broker to secure a new London residence for a senior financial services director. The client was selling their existing residence and sought a 76% LTV mortgage to make their next move.
The challengeGiven the client’s position and industry in which they worked, their remuneration was not traditional and comprised role-based allowances, bonuses and deferred shares, on top of their basic salary. They were looking for an interest-only mortgage with the option to pay down lump sums in line with liquidity events, something we are comfortable to consider.
A further consideration of this case was speed. The client had recently lost out to a cash buyer on another property and were particularly keen to get terms and a credit application submitted as soon as possible so as not to miss out again.