A triple borrower / joint proprietor solution for a client buying a holiday home in the UK
A wealth planner, private bank and investment manager all-in-one.
Our client’s wishes
Our colleagues at Nedbank in South Africa introduced us to a British client living abroad who wanted to buy a home in the UK. With both of her children studying here, she was looking for a place where she could stay comfortably during visits that that felt like a base for family time, rather than just another property.
On the advice of her accountant and solicitor, she asked for the mortgage to be set up as a Triple Borrower / Joint Proprietor arrangement. This means all three family members will be on the mortgage, while only the children’s names will appear on the title deeds.
The offer on the property had been accepted at £990,000, and she needed a £500,000 mortgage to complete the purchase.
Our clients’ situation
Our colleagues at Nedbank in South Africa introduced us to a British client living abroad who wanted to buy a home in the UK. With both of her children studying here, she was looking for a place where she could stay comfortably during visits that that felt like a base for family time, rather than just another property.
On the advice of her accountant and solicitor, she asked for the mortgage to be set up as a Triple Borrower / Joint Proprietor arrangement. This means all three family members will be on the mortgage, while only the children’s names will appear on the title deeds.
The offer on the property had been accepted at £990,000, and she needed a £500,000 mortgage to complete the purchase.
With a 50% loan-to-value, we were able to arrange a 10‑year, interest‑only mortgage that lined up well with the expected length of her INED roles.
Our clients’ outcome
With a 50% loan-to-value, we were able to arrange a 10‑year, interest‑only mortgage that lined up well with the expected length of her INED roles.
We recommended a variable rate solution which will allow her to make overpayments or lump‑sum reductions whenever it suits her, without facing early repayment charges.
The application was approved within a tight timeframe, and we’re now moving through the valuation stage. Our client is delighted with our support and is aiming for completion on her new home in the next month.
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Any examples of investments and structures used are for illustrative purposes only. This case study does not constitute an invitation or inducement to buy any financial investment or service. None of the content constitutes advice or a personal recommendation. Individuals should seek professional advice, based on their jurisdiction and personal circumstances, before making any financial decision.
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