Case Study –Second Home Mortgage | Low Deposit

Value £1,900,000
Loan £1,710,000
Location Hampstead
LTV 90%
Achieved Rate 5.64% (3.39% above base)
Completed December 2022
Adviser Jamie Roberts

The Client

Our clients were looking to purchase a second residential home for £1,900,000 and wished to borrow £1,710,000 to finance the transaction. They were looking to secure this facility on an interest-only basis over a 10-year term.

They were looking to proceed on a 90% LTV variable term tracker, as they had been aggressively reducing the debt on their main residence, which meant they only had a 10% deposit.

As a partner at an LLP specialising in patent and trade mark law, the nature in which the client is paid means that significantly large sums are added to their income throughout the year, which would allow them to reduce the loan amount quickly over a shorter term.

home living room