"This enabled us to provide our clients, John and Linda Philpin, with their offer within minutes of statutory regulation coming into effect.
'The Philpins fell in love with an apartment in a new development at Lancaster Gate and having negotiated a good price were keen to get things moving asap. John and Linda were already renting on the same street, so knew the area well and after consulting Alex Brooks of Charcol about their mortgage, they opted for the market leading 2 year tracker, Bank Base Rate - 0.76% (current rate 3.99%, reverting to 6.0% variable for term and with an overall cost for comparison of 6.0% APR) offered by BM Solutions. In addition the fact that BM Solutions could produce a mortgage offer very quickly was important. "
John Philpin commented, “After finding our dream property in a new development at Lancaster Gate, London through Knight Frank, we chose Charcol to advise us on our mortgage because of their expertise and independence. We also got our mortgage far quicker than expected, and at less cost. In fact thanks to Charcol our monthly outgoings will not change at all, yet our new apartment just 200 yards away from our current home is twice the size and brand new.”
Ray Boulger of Charcol added, “statutory mortgage regulation has caused the industry a lot of angst and many lenders were burning the midnight oil last night to make sure they were ready for the big day. This demonstrates that with the right approach and planning it’s business as usual with the right broker and the right lender.”
