Case Study –Remortgage | Competitive Long-Term Fixed-Rate

Value	£2,650,000
Loan Amount	£1,857,499
Property Location	Knightsbridge
LTV	70%
Achieved Rate	2.24%
Service	Remortgage
Completed	April 2022

The Client

Our client currently had a mortgage in place with a private bank, yet, with increasing rates, wanted to remortgage to lock into a more competitive long-term fixed rate. However, as our client had just started a new job and had only received one bonus, she did not have a track record of income to evidence affordability, as her salary alone was not sufficient to access the level of lending required.

The Solution

We approached a high street bank with a strong rationale for using the client’s single bonus payment. The bank agreed to make an exception and was happy to lend at the required level, allowing the client to complete her remortgage.

The Henry Dannell Difference

We were able to discuss the case with a senior underwriter who had the autonomy to make a policy exception based on our proposition and supporting documentation. The case was agreed pre-application, allowing us to obtain a mortgage offer in 12 working days. This enabled the client to complete the transaction in less than 5 weeks and move to the cheaper rate.