Challenge 3mc – Your specialist intermediary mortgage desk
Each week we will provide a worked example for a case from the previous week detailing the information provided by the intermediary for a specialist deal along with the end result.
In this example the 3mc mortgage desk took an enquiry from an intermediary based in Bristol. The client was looking to remortgage a Buy to Let property to purchase another 3 BTL properties. The client had been self employed for 11 months. In addition the client required a BTL product where the rental was based on the pay rate and not at 5.5%. The monthly rental income was £850 per month and the client required £200,000 on a value of £270,000.
Following extensive research including using the compare criteria from the 3mc website the deal was placed with Foundation Homeloans. The product was the packager exclusive 3.49% 5 year fixed rate with a 2% completion fee.