In addition, the revised approach meant that Jane would save on future arrangement and valuation fees as she would only be renewing her mortgage once, rather than a second time in the near future.
As a client renewed her interest-only mortgage, a conversation with her private banker led to a solution that helped her broader finances too.
With the changes to the loan reducing the level of risk to the bank, this allowed us to reduce the fixed rate of repayments by 0.5% for the entire term of the loan. The lower repayments would afford Jane a much better financial outcome, and she would not be left with a large liability so near her expected date of retirement.
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Clients of Nedbank Private Wealth can get in touch with their private banker directly to understand how wealth planning can help them achieve their financial goals and objectives, or call +44 (0)1624 645000 to speak to our client services team.
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We have helped countless clients with their financial needs – some straightforward, some complex. Our bespoke approach, where we really get to know our clients, allows us to offer solutions that other wealth planners and private banks aren’t able to.