Investec Private Banking has completed a mortgage worth over £4.5 million with London & Country.
The deal needed to be offered quickly to enable the client, a City executive, to successfully bid on their new home. The loan to value was low and Investec’s affordability and stress tests were met comfortably but flexibility to accommodate a variety of different income streams and bonus payments was essential. Investec Private Banking was also able to take account of other property, enabling the bank to cross collateralise the loan.
Peter Izard (pictured), business development manager at Investec Private Banking, said: “This deal shows what close collaboration between a broker and lender can achieve. Although this deal would have been beyond the scope of many high street lenders’ criteria, it represented exactly the size and type of case we specialise in.
“We’re delighted to have worked with London & Country’s City office to bring this deal successfully to fruition.”
David Hollingworth, associate director at London & Country, added: “Large loans don’t have to be complicated if dealt with by a broker and lender that are familiar with the type of issues that are likely to arise.
“London & Country and Investec Private Banking were able to work closely together to construct a bespoke deal on behalf of our client that met their specific requirements, not only now but also in terms of paying down the loan in the future.”
