Mr JK and Mr KY were looking to refinance their existing facility for £720,000 against their prized London investment property, valued at £1,250,000.
How we helped our clients
Following positive conversations with the clients and their accountant, we conducted a thorough affordability assessment. We were able to offer the clients a variable rate mortgage structure with a preferential rate for the first 2 years for an overall term of 7 years as it was likely that both clients would look to reduce the facility exposure over the next few years.
To mitigate the initial shortfall in income due to KY’s business performance and to provide further comfort for the bank, a charged cash deposit was also taken and would be periodically reviewed throughout the term of the mortgage.
The clients were delighted with the flexibility that we were able to provide, and we were pleased to assist the family find a solution that worked for them.
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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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