Case Study –Mortgage Review | Preventing 3x Rate Increase

Clients Profession	Company Director
Property Value	£1,215,000
Loan Amount	£515,000
Location	London
LTV	42%
Achieved Rate	4.46%
Completed	February 2023

The Client

Our client was looking to remortgage as the existing rate on their mortgage was nearing its expiration. However, their financial records from the past two years revealed a decrease in income as a direct result of the adverse impact of the COVID-19 pandemic. As a result, when assessing affordability with potential new lenders, the client’s maximum available loan amount was found to be approximately half of their current outstanding balance.

The Solution

We were able to successfully secure our client a new rate through their existing mortgage provider. This meant that our client would not be subjected to the unpredictability of the variable rate, which was set at over 7%. With this new arrangement, our client gained the peace of mind of having fixed monthly payments, providing him with a sense of financial stability and certainty.

The Henry Dannell Difference

We secured our client a new rate 6 months before the expiration of their current rate. As market rates continued to decrease, we leveraged our expertise to strategically switch our client's rate multiple times until the completion of the remortgage process. This ensured our client secured a significantly lower rate, 1.25% lower than the rate initially applied for. Our commitment to monitoring market trends and seizing opportunities on behalf of our clients truly paid off, delivering tangible benefits and cost savings.