The case in brief
- Client: Swiss National & US Resident
- Property type: Residential Purchase
- Property value: £1.8m
- Loan Amount: £1.2m
- LTV: 66%
Useful guides related to this case study
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Our Case
We recently assisted a high-net-worth (HNW) client in securing financing for their second home purchase in London. Our client, a fund manager based in London, was looking for a second home for family near his sons boarding school in South West England.
Our Client
The client was looking for a broker who could handle inconsistent income and bonuses whilst providing an interest only facility. Articus has extensive experience in facilitating property finance for individuals with bonus-based incomes – see how we assisted another client maximise their bonus income – click here.
The client’s substantial bonus – which varied considerably – is generally viewed less favorably by banks due to its higher risk and less sustainable nature over the mortgage term. Additionally, our client aimed to keep their monthly payments to a minimum.
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The client’s residential property in London was valued at £3.8 million and was had a £2m mortgage secured against it – this made the case trickier as the monthly payments associated to the mortgage are also be taken into consideration.
Our Solution
Articus partnered with a private bank known for its practical and common-sense approach to assessing income, affordability, and repayment plans. Our broker expertly structured the loan amounts in accordance with the lender’s criteria for interest-only payments while securing a highly competitive interest rate for our client.
This case highlights our capabilities as specialists in residential finance and maximising income, showcasing that our services extend beyond residential property finance.
We can provide support for various finance types to accommodate your needs. Please get in touch with us today to explore how we can assist your financial objectives.