£1,480,000 – Remortgage For An Investment Banker In London

The Story

Fox Davidson were approached by an Investment Banker who had an existing mortgage on their property. However, the rate was due to expire in early 2023 and they would prefer to lock in a rate now rather than wait until nearer the time.

The Challenge

We spoke to the client’s existing lender about allowing them to book a product now so when their mortgage rate expired they would be able to transfer the mortgage to a new rate. They confirmed this was only possible to book in up to 4 months before the current product expired.

The Solution

We looked around the marketplace and spoke to high street lenders who would allow us to apply and book a rate for the client’s remortgage. These lenders could provide a mortgage offer which
was valid for 6 months. This allowed enough time for the client’s existing product to expire and the remortgage to take effect.

By doing this, we were able to give the client peace of mind that they had a rate secured. We will also diarise to speak with their existing lender 4 months before the current product expires. They can then decide whether to stay with their existing lender and book a product transfer, or leave their existing lender and take the remortgage product.

High Net Worth Mortgage Solutions From Fox Davidson

For more information on high net worth mortgages or to speak to us about general mortgage advice, please contact a member of the Fox Davidson team today, email enquiry@foxdavidson.co.uk or call us on 0117 989 7950.