High loan to value mortgage with bullet repayments

17th Jan 18
Victoria Barton Head of Insurance

Victoria Barton

Product of the week: high loan to value mortgage with bullet repayments
Head of Insurance

Victoria Barton

Are you looking to purchase a new home or remortgage your current property, but also require a high loan to value mortgage? Our product of the week, available up to 85% loan to value (LTV), could be the answer you’re looking for.

An 85% loan to value mortgage is a fantastic offering. Many lenders prefer not to lend above the 65-75% loan to value mark, so this level of additional borrowing could be extremely appealing if having a high loan to value mortgage is a priority for you.

The flipside of many high loan to value products is the rate. Fortunately, the rates offered by this lender are excellent even at the upper end of the loan to value spectrum. Offering 2, 3 and 5-year fixed rates ranging from 2.04% to 2.14% on loans up to £1million, this is an excellently priced mortgage product from a very competitive lender.

One of the most interesting features of this product is that 75% of the loan can be on an interest only repayment basis, providing you have a credible and provable repayment strategy in place. You will then also have the ability to make ‘bullet repayments’ on a yearly basis. This gives you the freedom to enjoy lower monthly repayments, and then pay down a chunk of the capital each year.

This makes this an ideal product for clients who have lower basic salaries, but receive big bonuses. This product is also suitable for contract workers.

As an additional benefit, this product allows up to a 20% overpayment without incurring any penalties or early repayment charges. As such, you can pay over the contractual amount if you wish.

  • Loans up to 85% LTV
  • Fixed rates from 2.04-2.14%
  • Bullet repayments

This bank prides itself on taking a holistic approach, providing individual case underwriting to effectively account for each client’s individual circumstances. I have an excellent relationship with this lender and would be delighted to advise you further if you are looking for a mortgage up to 1 million pounds.

If you’re looking for a slightly larger facility, this lender also offers loans up to £1.5million at 85%, or £2million at 75% LTV. Whatever your residential mortgage requirements are, Enness Mortgages has access to the whole of the lender market and would be delighted to advise you further.