JEFS Case Study
Client Profile
A high-net-worth client approached us seeking to raise £3 million against their £6 million residential property, which was undergoing extensive renovations. The objective was to release capital to fund the ongoing works, with a preference for an interest-only mortgage structure.
The Challenge
Several obstacles complicated the transaction:
- Renovation works were already underway, limiting the pool of lenders willing to engage.
- The client required a fast turnaround, as the building project was in progress and time-sensitive.
- The preference for a long-term, interest-only facility further narrowed lender options.
Our Solution
Leveraging our private banking relationships, our broker identified a lender with the flexibility to take on this unique case. We successfully secured a 10-year interest-only mortgage at a competitive rate of 1% over Bank of England base rate with No early repayment charges, offering the client full flexibility. Most impressively, the deal was completed within three weeks from application to drawdown, ensuring no disruption to the renovation timeline.
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