Central London Property Refinance for HNW Business Owner
9th March 2021
Key facts:
- Central London property
- Property value: £13,000,000
- Loan amount: £9,100,000
- LTV: 70%
- 1.24% above BoE base rate
- Interest-only mortgage
In this case, we were approached by a client who was looking for a refinance solution. The client was a successful business owner and had accumulated his wealth in the entertainment industry.
More specifically, the client was looking to refinance his current residential property in order to raise money to reduce his more expensive buy-to-let borrowing. Read more about residential bridging loans.
More than 10 years of operating in the large mortgage sphere have allowed us to build up a wealth of contacts across the property industry. This allows us to introduce a degree of competition when negotiating the best terms. Also, we know who to approach for different situations, how to approach them and the type of information required.
As such, we arranged a high loan to value (LTV) of 70%. The high value mortgage was offered at a competitive interest rate, resulting in considerable savings for the client.
It is fair to say this particular client was extremely satisfied with the outcome and the very short turnaround time.
How to Buy and Finance Luxury Property in France Guide
France is one of the most popular property markets for foreign nationals: we are all aware of the chic appeal of Paris, the enduring allure of the Riviera in the summer or the freshness of the mountains in winter.
Covering everything from search and negotiation to making an offer and the legal processes, the guide will help you fulfil your dream of property ownership in France.
