Urgent refinancing made simple
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Our client’s wishes
A colleague in South Africa reached out to us for support with an Irish couple who have been living in South Africa for over 20 years. The couple were looking to refinance the mortgage on a property in the UK which acted as their UK Limited Company headquarters.
There was a real urgency to this particular request because their current lender had been taken over and now only offered Sharia-compliant finance. The couple, both in their late 60s, wanted to keep a conventional mortgage, and switching to Sharia finance would have been a costly solution for them.
Their mortgage was due to expire in just four weeks, so finding a flexible lender quickly was vitally important. The existing facility was £650,000 against a property valued at £1,950,000.
Our clients’ situation
Because of the clients’ age, we needed to review their rental income and other sources of funds. It was clear that the property, a prime London asset, had an excellent 20-year track record.
Rental income could comfortably cover the interest payments, although our stress testing showed a small shortfall. Because the property had a strong rental history and the clients had other accessible funds and investments, we agreed there was no need to set aside extra money in a separate account.
We arranged an interest-only mortgage for 10 years on a floating variable rate tracker. This suited the clients’ plan to sell the property within that timeframe.
Our clients’ outcome
We arranged an interest-only mortgage for 10 years on a floating variable rate tracker. This suited the clients’ plan to sell the property within that timeframe. The variable rate also gave them flexibility to make lump-sum repayments without early repayment charges.
Once all documents were shared with us, the case was approved within three days. We also recommended the clients ask their current lender for a short three-month extension to give enough time to complete the legal work. This helped reassure them and kept everything on track.
The existing lender agreed, and the clients were very appreciative of our guidance and personalised approach to finding a solution for them. We are now progressing with the valuation and legal work, aiming to complete by the end of December 2025.
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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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