Case Study –New Residential Purchase | Interest-Only Mortgage

Value	£2,400,000
Loan Amount	£2,040,000
Property Location	Wandsworth
LTV	85%
Achieved Rate	2.69%
Term	2-year fixed
Completed	September 2021

The Client

Our client had a strong income, however, with significant monthly outgoings for maintenance and school fees, he wanted to minimise his monthly committed expenditure by taking the loan on an interest-only basis.

The Solution

We approached a private bank willing to lend at the required LTV on an interest-only basis, with agreed capital reductions over a 5-year period, to coincide with the client’s bonuses and LTIP awards.

The Henry Dannell Difference

Our client wanted to minimise his monthly outgoings with an interest-only loan and was willing to reduce the capital over an agreed period in line with his annual bonuses and LTIP awards. This would not be possible with a high street lender, however, with our knowledge of private banks and their lending criteria, we were able to source the right solution to meet our client's requirements.