Case Study –Secured Mortgage Offer Extension Outside of Policy

Property Value £735,000
Loan Amount £626,000
Location Islington
LTV 85%
Achieved Rate 4.40%
Completed January 2023
Adviser Courtney Flockhart

The Client

The clients were in the market for their first property. We had previously helped them secure an approved application for a different property and made an offer. However, during the property survey, unexpected issues arose, and they decided not to proceed with the purchase. Despite securing a favourable rate based on the Loan-to-Value ratio, the lender’s policy prevented them from transferring this rate to a new property. As a result, the rates presented for the new property were 1.5% higher than their previous rate.

A young couple with a mortgage adviser looking at a laptop