Can a mortgage broker resolve this query ?

property.advert

£900k to £1m property
£265k joint income (£185k+£80k), full time employment
90% LTV would be preferable, 85% could be possible
No debt

Would prefer product with zero exit fees as will be able to reduce LTV significantly within 12 to 24 months.

TheMortgageAdviser

Any unsecured debt?

Would strongly suggest you consider 85% over 90%. The rates are significantly better and you have more chance of finding something with no exit fees.

Consider an Offset Mortgage which has no limit to overpayments or Offsetting with a linked savings account ready for when you're in a position to reduce your balance.

TheMortgageAdviser

Sorry just re-read and seen you have no unsecured debt.

TheMortgageAdviser

Can't see that you would have a problem on income either on the face of it as you are only looking to borrow around 3.4x your joint income.

ACG

Above £500k 90% is very limited in terms of providers and products.

There are only 1 or 2 lenders im aware of but it should be possible, although i dont think it will be possible to get one with no exit fees.

amnblog

If either of you are a Professional we can get this done on an offset product which means you dont need to worry about exit fees provided you are not paying the whole thing off in the first two years.

If one of you is not a Professional it is compromise time on your requirements.

By Professional I mean

Accountant
Barrister
Dentist
Doctor
Pharmacist
Solicitor
Veterinary Surgeon

property.advert

Thanks for the replies. To answer:

One not a professional, neither working in the professions.

Desire to have no exit fees is linked to a wish to move to interest only ASAP. Full x 2 ISA invested.

However, preferred end product would be a circa 10 year fixed rate, happily accepting lock in fees.

In the end, swallowing exit fees will be less than the increase in the property price so I won't get too hung up on that if we can get it down to a couple of percent maximum and a 12/24 months deal.