Case Study –Building Flexibility Into a £593,000 Remortgage

We arranged borrowing of approximately £593,000 at 59.3% loan-to-value on a repayment basis. A variable rate product was selected to provide greater flexibility around a possible future sale while still meeting the clients’ current borrowing requirements. The maternity leave position was appropriately evidenced so that the temporary change in income did not distort the underlying affordability assessment. We carried out medical research on an anonymous basis to assess the underwriting approach across relevant insurers. This allowed us to consider the clients’ ages, health circumstances, disclosed medical history and required policy term before deciding where the case should be positioned. Rather than submitting multiple applications without a clear view of likely underwriting, we were able to approach the market more selectively. An insurer with an appropriate underwriting appetite was identified and the required life cover was secured at standard rates.