Complex made simple

A CHANGE OF HEART LEADS TO A COMPLEX SITUATION

We were approached by a broker to help his client – a 67-year-old dentist living in London – who was approaching the end of the term on his residential interest-only mortgage.

The original plan was for him to retire and downsize outside of London, however the client changed his mind. He saw the potential to stay in his business due to technological improvements, which resulted in him wanting to remortgage for 5 years.

Issues Faced:

  • Age
  • Term
  • Had been running his business down due to retirement

Outcome

We discussed the case with a lender on panel and created a bespoke 5 year interest-only mortgage, not on-plan for the lender and ticking all of the clients boxes.