Lending criteria exception for new build studio flat purchase in E1

Our client is an experienced investor with three buy to let properties although his primary income is from his PAYE day job. He contacted us because his regular broker was unable to find finance to fund a new build studio flat above commercial premises in London E1.

Because of our considerable expertise and longstanding relationships with the BTL lenders, we found one who was willing to agree to an exception in policy due to the strong location of the property.

Here are the details of the deal:

Property value: £400,000

Loan amount: £300,000

Loan to value: 75%

Term: 25 years interest only

Rate: 3.49% 2 year tracker

Lender arrangement fee: £995

Completion date: March 2014

This is just one example of how I've helped a client secure a buy to let mortgage. To see more of my case studies please visit my profile page. And if you have any funding requirements, please do not hesitate to contact me. My direct line and email address can be found below.