Quick refinance for landlord whose lender called in loan

We were approached by a broker who was trying to source finance for a client whose lender had requested that a loan of £550k (secured on several properties) be repaid as a matter of urgency.

The client is an experienced landlord with a large portfolio.

Her income from the properties and other sources is around £80k per year.

She had identified two properties to refinance in order to repay the loan - a multi-unit freehold block of four flats and a 3-bed family house both located in Bristol.

The timeframe given by the bank was insufficient to find suitable long-term rates so bridging seemed to be the best solution.

Keystone was chosen as the provider because the client fitted the criteria and there is the possibility that she will be able to refinance onto longer term products within Keystone’s New Classic Range in 3-6 months’ time.

Here are the details of the case:

Property 1 value: £570,000

Rental income: £2,990 pcm

Gross yield: 6.3% pa

Loan 1 amount: £400,000

LTV: 70%

Rate: 0.85% pcm

Facility fee: 2% (£8,000) + £199 assessment fee


Property 2 value: £275,000

Rental income: £1,095 pcm

Gross yield: 4.8% pa

Loan 2 amount: £150,000

LTV: 55%

Rate: 0.85% pcm

Facility fee: 2% (£3,000) + £199 assessment fee



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