secure-a-triple-borrower mortgage-header-family having-fun-stand-Up-Paddling-Together-in-the-Ocean

Our clients’ wishes

Derek, aged 48, is a divorced dual British and South African national who was introduced to Nedbank Private Wealth by a leading broker firm. He was looking to purchase a new-build two-bedroom apartment in London, as he wanted a more permanent UK base for himself in the future due to travelling extensively between the UK, South Africa and the USA.

Beautiful cosmos flowers in sunset time
Our client’s situation

Derek has two daughters, Emily and Sarah. Emily lives and works in the UK and planned to live in the property.

The agreed purchase price of the apartment was £1,300,000 and Derek was seeking a mortgage of £744,000.

Derek’s intention was to set up the mortgage facility as a triple borrower, joint proprietor mortgage* as this would lower his stamp duty. He also wanted the title deeds in both his daughters’ names, as this would assist with future inheritance tax planning. For this transaction they would be categorised as first-time buyers in the UK.

Derek was under pressure to secure a mortgage offer as the developer was planning to serve notice to complete.

Given he held senior level positions within a number of firms, Derek’s case was further complicated by his multiple income streams. He also held investment properties in his name and a had a percentage share in five other corporate properties, which are due to be sold over the next two years. This is expected to generate a healthy return for him.

Derek plans to repay the mortgage in full within five years.

Derek and his daughters have now completed on their new apartment and Derek is looking forward to making it his new permanent base in the near future.

How we helped

We carefully considered Derek’s financial situation to get a firm understanding of his future financial commitments and concluded that Derek could comfortably meet the monthly mortgage payments.

With this being a regulated mortgage facility, we were comfortable with the repayment strategy after receiving confirmation that the corporate properties Derek had a stake in would be marketed within the 2-year timeframe.

The mortgage solution that we recommended was a 5-year floating variable rate of 1.20% over a 5-year term to align with the repayment strategy, and to also provide Derek with complete flexibility to make overpayments into the mortgage without incurring penalties.

Derek and his daughters have now completed on their new apartment and Derek is looking forward to making it his new permanent base in the near future.


*A joint-borrower-sole-proprietor mortgage, or JBSP mortgage, lets you buy a property with the help of up to four people.


Get in touch with a member of our team to find out how Nedbank Private Wealth can help you achieve your financial goals and objectives.

Email our credit specialists directly at [email protected] or call +44 (0)1624 645000 to speak to our client services team.

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.

Related case studies

Read about more clients we have helped

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.