Our client, a partner in a law firm, required a loan-to-value (LTV) of 80% on a £4m residential purchase.

They had spoken to other brokers who had recommended a couple of Private Banks, however, they were not happy with the rates and arrangement fees (up to 1% of the loan amount).

Adam O’Callaghan CMgr MCMI was able to speak to his contacts in a retail bank who not only offered a lower rate and much lower arrangement fee, but also agreed to offer an exception to their LTV policy. Normally the limit would have been 75% LTV, however, on assessment of the strengths of the case, the lender was happy to grant an exception, increasing the borrowing to 80% LTV.