85% LTV on high value mortgage

2.34% interest rate

First-time buyer high value interest-only mortgage

Our client

Our client was buying a property in London for £4.5m and required an 85% LTV mortgage. He is a First-time buyer in the UK and is a senior executive at a large multinational firm.

What was needed?

Due to the nature of the client’s income, he wanted to arrange as much of the loan as possible as interest only, as he would be able to reduce the loan down over the coming years.

What was the challenge?

Getting 85% loan to value in the current market over £1m is tough, so at this level of borrowing was more of a challenge than ever. Added to this the interest only requirement, made it extra difficult…

How we provided the solution

After contacting the relevant high street banks, it became clear to Nick Plappert that these lenders do not have the appetite for lending at this level currently.

However, Nick was able to secure the mortgage via his relationship with a Private Bank who were able to structure the loan exactly to the client requirements, i.e. an 85% loan to value, Interest-only mortgage with set pay downs.

The client was delighted with the outcome and the way in which Nick and his team were able to secure his mortgage application.

What was the rate?

The rate was 2.34%


Essential to talk to an adviser

Depending on your mortgage objectives, it really is essential to talk to an adviser that has access to the whole market. Your bank of many years that you know and love, may have been badly affected by Covid and through changes in ‘mortgage affordability’ and capacity may not offer you the best terms or loan amount.

So it makes sense to look see to what else is available and a broker is your best and easiest way of doing that, as we have access to lenders, products and underwriters that the general public simply do not. Contact us to talk through your mortgage goals.