Offset Mortgage For London Barrister Buying Second Home In Somerset

Area
Somerset
Capital Raised
£658K

Scenario:

We were approached by a self employed barrister from London who wanted to buy a second home in the South West of England to get away to at the weekends.

Having found a property in Somerset the client wished to secure a mortgage with a 15% deposit.

Our solution:

The client being a high earner, the mortgage product type was key consideration.

Due to the client's work she kept a large amount in savings to pay her tax bills at the end of the year. Because of this we ran the calculations and found that an offset mortgage would be beneficial and would save her c£400 pm on the interest of the mortgage.

The client had the option to use the offset mortgage to reduce the monthly payment or reduce the term on the mortgage and could switch between the two as and when she wanted. Her savings were earning sub 0.2% pa in interest in her savings accounts but by going for an offset mortgage facility we could essentially get her 2.5% on her savings.

We were able to secure a 85% LTV (loan to value) mortgage on a 5 year fixed term of 2.5% pa.

Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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