Case Study –Day One Refinance of Unencumbered Property

Property Value	£575,000
Loan Amount	£220,000
Location	Cheshire
LTV	38%
Achieved Rate	3.49%
Completed	January 2023
Adviser	Courtney Flockhart

The Client

Our client successfully completed the purchase of his new residential property with a cash payment, as the vendor requested a speedy transaction. In order to reimburse his parents for the funds they provided him for the property acquisition, he had to raise £220,000.

man smiling on sofa looking at his tablet

The Solution

We sourced a lender who allowed us to submit an application on the same day the purchase was completed. This enabled us to secure a new rate for our client amidst an uncertain economic climate. To provide him with financial stability and assurance regarding his monthly payments, we secured a long-term fixed rate.

The Henry Dannell Difference

Despite being informed by several brokers and lenders that he would not be eligible for a competitive rate until he had owned the property for 6 months, we were able to find a solution that allowed him to secure a new rate as soon as possible - on the day of the TR1 registration.