BEST BUYS

Best Buy: Residential
Product Type 2 Year Discounted Variable
Initial Rate 1.29%
Subsequent Rate 5.79%
APR* 5.1%
Arrangement Fee £999
Best Buy: Residential
Product Type 2 Year Fixed
Initial Rate 1.28%
Subsequent Rate 4.24%
APR* 3.8%
Arrangement Fee £1,499
* The overall cost for comparison

The availability of the above products is dependent upon certain criteria including but not limited to loan size, loan to value and personal income.

WHAT IS POSSIBLE FOR ME?

With different lending criteria, rates and charges imposed by the various lenders who offer first time buyer mortgages, it is important that we negotiate the right deal for you. We work efficiently and quickly on your behalf, understanding that speed is often of the essence. We are with you from start to finish; there's no need for you to chase the lender or other professionals involved in the process.

Please speak to a consultant now on 0800 980 8777 or request a call back below


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WHAT OUR CLIENTS SAY

I would not hesitate to recommend Private Finance and I can’t praise the firm highly enough. Alexander Armstrong, Comedian, Actor & Presenter
So many people have congratulated us on getting finance in place to buy without selling. Very few people realised before how useful a broker can be. Jan Harrison
Once again, many, many thanks for the help provided by you and your team (especially Tricia). We were very impressed with how quick and responsive you all were. More than that, you were the key to us realising that we could actually move ahead on a let-to-buy basis, after I’d rather been discouraged by a previous conversation with another intermediary, so it’s no exaggeration to say that we couldn’t have done it without you. Mr & Mrs Lethem
Dear Edward, it was such a pleasure dealing with your firm, I wanted to make a special effort to write and thank you and your team for all your efforts.  I set you a difficult task because of the many circumstances surrounding my refinance. Having bought and sold property in England some years ago and then becoming a licenced commercial property broker in California, I was involved in arranging many mortgages both for myself and my clients. Both Simon Marsh and Tricia Clarke were gracious and helpful, and assisted me in every way possible. They were right on top of the situation and made me feel as if I was the only client they had. I have never had such excellent service before; both sides of the Atlantic! I truly appreciated the promptness with which all the requests were passed on to me, and in helping me to fill out the forms.  Now it is in the hands of the solicitors. Thank you again and I will have no hesitation in recommending your firm. Basia Fuller
MORE TESTIMONIALS

Case Study: Doctors Seek to Let Out Existing Property And Purchase Dream Home

by Kate Blissett | Mar 26, 2019
Our clients – two doctors – wished to let out their property and purchase a second, larger one, into which they planned to move once the necessary financial arrangements had been made.

Proposition

Our clients – two doctors – wished to let out their property and purchase a second, larger one, into which they planned to move once the necessary financial arrangements had been made. In order to do this, they hoped to take equity out of their first home and use it to put down a deposit for their second. They were particularly set on the idea of keeping their current home while purchasing their second, and this presented them with a number of difficulties, because the mainstream lenders with whom they had been dealing up to this point were unwilling to offer them a loan of the required size. There were a number of reasons for this: firstly, because both of our clients worked for the NHS while doing private practice work, and this left them each with two primary sources of income, one of which was classed as employed, one as self-employed. Mainstream lenders were unwilling to incorporate the entirety of our clients’ incomes when calculating affordability, which severely reduced the size of the loan for which they were deemed eligible. In addition to this, our clients were committed to paying £3k of school fees per month.

Solution

When they came to us, our clients had £328k equity in their first home, which had been valued at £550k. The second home they wished to purchase was worth £760k. We needed to find a lender who was willing to accept both of our clients’ incomes as primary, to take both incomes in full, to accept the £3k school fees per month, and who was amenable to top-slicing, so that we could take equity out of the first mortgage and put it towards the deposit for the second. We were able locate lenders who met all of these requirements, and our clients were able to achieve their desired outcome.   

Lending Facility

We advised our clients to take £114k out of their first home and put it down as a 15% deposit for their second. We then arranged two five-year fixed mortgages: the first was a let-to-buy interest-only mortgage on the first property, with a loan size of £336k, a rate of 2.44%, and mortgage payments of £685 per month. The second was a standard 85% LTV residential mortgage with a loan size of £646k, a rate of 2.14%, and mortgage payments of £2786 per month. The rent for first of these properties had been valued at £1400, which meant that it would cost them around £2k per month to run both properties.

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