Bed and Breakfast purchase. (May 2011)
Husband and wife applicants wished to purchase an established B&B business, following his redundancy. The applicants’ contribution/balance of the purchase money was raised from a re-mortgage of two of their buy to let properties, which were coordinated with different lenders to produce a successful outcome.
| Loan amount & terms: | £250,000, 4.5% SVR over 15 years, on a capital repayment basis. |
| Property value: | B&B purchase price £500,000 |
| Completion date: | May 2011 |
