• Buying in: Les Gets
• Property price: €775,000
• Loan Amount: €310,845
• Mortgage Type: Repayment
• Mortgage Term: 25 years
• Interest Rate: 2.35%
• Loan-to-value: 85%

The background:

Our client, a successful CEO in Jersey (UK), was looking for a mortgage with the highest LTV possible and the longest term possible. He had already contacted a bank and had been turned down for the max LTV and offered only 70% (which is what most banks offer in general). That’s when our client contacted us.

Our approach:

The bank that offered a reduced LTV to our client is actually our longest active lending partner with whom we have a great relationship. We went back to the bank and contacted our dedicated underwriters (the same we have been working with for years). They agreed to increase the LTV up to 85%, with a fixed rate of 2.35% over 25 years on a repayment basis. On top of it, the life insurance (mortgage cover) was optional. As the client was already insured, he decided to waive it. Overall the process lasted 26 days!

It is important here to see how using a broker is important. Even if you are in contact with the bank directly, the broker has a great relationship and knows the ins and outs to make sure that you get approved the best possible deal. 

Cherry on the cake, we didn’t charge a broker fee as the bank paid us a good commission. It was a win-win-win scenario.