Case Study –Retiree Remortgage | Income from Portfolio

Value	£12,500,000
Loan Amount	£3,500,000
Location	Berkshire
LTV	28%
Achieved Rate	2.46%
Completed	July 2022
Adviser	Jamie Roberts

The Client

Our clients were coming to the end of their fixed rate period with their existing lender, and it was important to them to obtain something very similar going forwards. The features the clients wanted were a 5-year fixed on an interest-only basis.

The complexities we needed to overcome were that the clients had limited earned income, however, significant assets held in various investment portfolios remained largely undrawn. The property being refinanced also had 52 acres of land and 3 outbuildings, some of which had previously been used on a commercial basis.

The Solution

We approached numerous high-street and private banks with a case summary, however, most were either uncomfortable with the income we would be looking to use or the nature of the property itself, due to the large acreage and previous commercial usage. However, after presenting the case to Cumberland Building Society, we were able to secure the loan required, as they took a holistic view of the potential income. Cumberland also specialises in dealing with non-standard property types and was therefore happy to consider all the complexities, subject to a satisfactory valuation.

The Henry Dannell Difference

The benefit of using Henry Dannell was the access we have to niche lenders, such as, Cumberland. Many brokers may not have the ability to submit business or be aware of the criteria of such a lender. This allowed the client to achieve the loan required on the structure they wanted, without paying significantly higher fees or interest rates.