Flat in Holborn
Property value - £5,000,000
Loan amount - £2,600,000
LTV - 52%
Interest rate - 1.89% above base
UK residents relocating to Hong Kong
Securing a large buy to let loan for a prime property in Central London.
Pushing boundaries and creating inventive solutions to unusual circumstances, we provide a market-leading service to individuals who want an experienced professional on their side to make sure transactions happen smoothly and efficiently within set timeframes.
In this case, clients approached us looking to remortgage their interest-only loan on their Holborn apartment specifically into C&I (Capital and Interest) loan where monthly repayments are made up of capital repayments and interest. For mortgages, this high in value, securing C&I loan can be tricky.
Situated in Central London, Holborn is considered to be one of the trendiest areas to live, work, and play in the capital. Due to its close proximity to Fleet Street, the Royal Courts of Justice and City of London, Holborn is a dynamic hub for lawyers, bankers and other professionals. Populated with many exclusive shops, luxurious hotels, high-end restaurants and prime residential property, Holborn is full of character.
The Mrs was a Managing Director at a leading international investment firm. Having recently been offered a new role, she was set to relocate to Hong Kong soon. This meant she would lose her bonus history and would receive a sign-on bonus instead, which not all lenders like. What is more, the loan was going to be non-regulated as wanted to rent the apartment out while in Hong Kong. Finally, the couple was looking to raise money for the Mr, who wanted to buy out his business partner.
Our clients trust us to act on their behalf, provide innovative finance solutions and, just as importantly, manage the entire process with a detailed, expert eye to ensure their mortgage plans are executed with precision and efficiency.
Using our expertise, we effectively provided a remortgaging solution perfectly suited to the individual circumstances at hand. In fact, the client was allowed to draw down the buy-to-let loan even when she couldn’t move to Hong Kong because of the Covid pandemic.