Unusual Mortgages were recently approached by Carl (Aged 39) who is an Executive Director of a large five star hotel in London.<\/p>\n
Carl currently owns a property worth around \u00a3200,000 on the outskirts of London, which has a small outstanding mortgage and he would like to purchase an apartment in Central London to be closer to his work to reduce his commute time.<\/p>\n
With property prices increasing rapidly in London, Carl asked us to explore the possibility of letting out his current property and releasing some deposit money. He had found a nice one bedroom apartment close to Kensington that was on the market for \u00a3360,000 that he would like to buy.<\/p>\n
He approached our \u201cLarge Mortgage Service\u201d for expert advice because of the complex nature of raising two mortgages at the same time. Both for the property that he wants to let out to tenants and also the new property that he wishes to buy for himself to continue to live in.<\/p>\n
We were able to find him a Let to Buy Mortgage on his current property for \u00a3100,000, which was around half of its current value. This created the deposit that then allowed us to raise a new residential mortgage of \u00a3280,000 against Carl\u2019s new apartment in Kensington.<\/p>\n
Carl borrowed \u00a3380,000 in total on which we charged a set arrangement fee, instead of the typical percentage of 1%* that other mortgage advisers charge their clients on complex mortgage situations. This equated to a total saving of \u00a32210 in Broker Fees for our client.<\/p>\n
Unusual Mortgages are experts at finding Large Mortgages and advising on complex multiple mortgage situations in return for reasonable broker fees \u2026<\/p>\n
Visit <\/em><\/strong>www.unusualmortgages.co.uk<\/em><\/strong><\/a> for our free Large Mortgage Fact Sheet<\/em><\/strong><\/p>\n