Case Study –Lifetime Mortgage – New Residential Purchase

Value	£740,000
Lifetime Mortgage	£236,800
LTV	32%
Achieved Rate	4.05% fixed-rate
Broker	Stephen Savill

The Client

Our client was looking to move to a more expensive, thatched property, situated in a quieter area to live our their retirement. In order to protect their estate for their beneficiaries upon their passing, they wished to make regular payments using their pension income, to manage the interest.

The Solution

We were able to source a lender who was willing to lend on a thatched property, whilst also offering a reduced fixed-rate plan, that allowed for monthly Direct Debit payments, without incurring a penalty.

The Henry Dannell Difference

We recommended to our client that they delay completion until after the youngest borrower's next birthday. This enabled them to secure an additional 1% LTV, which they were able to use to support their moving costs and allow them to retain their savings in full.