Flexible residential remortgage to enable future upsizing.
Highly competitive remortgage rate of 0.84% 2-year-fixed.
Busy, professional couple saves time, money, and inconvenience.
The clients were a married couple; he was a Company Director, and she was a Doctor. They wanted to remortgage their current property while considering that they may upsize in the next two years.
What was needed
The couple was looking for a competitive £434,000 remortgage on their residential property to take advantage of cheaper mortgage rates, rather than simply renewing with their existing lender. They didn’t want to lock in their deal for more than 2 years in case an early redemption charge would be payable if they moved home.
What was the challenge?
The clients were a remarkably busy couple with work and family who did not have a great deal of time to research the mortgage lending market in-depth, compare offers, identify the best option, and then spend time on the remortgage process.
They were seeking a knowledgeable broker with access to exclusive broker-only deals with money-saving rates who understood their mortgage needs. The clients wanted a mortgage adviser who had their best interests at heart, working for them not a lender, and who understood their financial situation, personal circumstances, and mortgage goals. They were also looking for someone to manage the process on their behalf to save them hours of time.
How we provided the solution
After speaking with the clients and assessing their remortgage needs, Joanna Ziou, Associate, through her experience and lender contacts, researched the mortgage market. Joanna identified the most competitive remortgage deal for the clients’ circumstances and, along with their dedicated case manager, piloted the remortgage deal to its conclusion.
The reason Joanna advised a 2 year fixed rate deal was that the clients were considering upsizing within the next 2 years, and so would be selling their current property to buy another larger one. It didn’t make sense to lock the clients into a 5 year fixed product as they may have had to pay an early redemption charge if they moved home, hence Joanna proceeded with a 2 year fixed rate deal.
The client was delighted with London mortgage broker Rose Capital’s approach, in particular with mortgage adviser Joanna Ziou’s knowledge and expertise which has saved the clients both time and money and has given them flexibility if they decide to move home.
What was the rate
The interest rate was 0.84%, fixed for 2 years.