Landlord buys block of flats with 5 year fixed rate

We were contacted by a broker, whose client, needed assistance sourcing finance for a block of flats he was looking to buy.

The client, a landlord with seven rental properties to his name, was looking expand his buy to let portfolio with the purchase of a block of flats. Specifically, to protect against future rate hikes he requested a five year fixed rate. His proof of income came through SA302s and he provided the deposit using private funds.

We selected Keystone Buy to Let Mortgages as the appropriate lender, due to its acceptance of multi-units and full-time landlords, as well as the fact it offers five year fixed rate mortgages.

Combined property value: £85,000

Loan amount: £63,750

LTV: 75%

Rate: 5.44% fixed for 5 years

Term: 20 years interest only

Lender arrangement fee: 2.5%

Completion date: June 2014

This is just one example of how we've helped a client secure a buy to let mortgage. To see more of our case studies please visit either Popy's or Gareth's profile page. And if you have any funding requirements, please do not hesitate to contact us. Our direct lines and email addresses can be found below.