A married couple – both professional landlords approached us looking to refinance one of their rental properties. Between them, the couple own circa 40 rental properties, with a total mortgage borrowing of over £9m.

The property in question is a 3-bed terraced house in West London. Since purchasing the property in 2011 for £185,000 the couple had carried out major redevelopment works on it including a basement and loft conversion. It was now estimated to be worth in the region of £600k.

The couple were looking to refinance for 3 reasons:

1. They had reached the end of their initial mortgage term and been reverted onto the lender's standard variable rate
2. They wanted to take advantage of the well-priced longer term fixed rates currently available on the market
3. They were looking to raise capital for further property investment

With such a large portfolio, the clients had reached the exposure limits set by many lenders, which restricted the finance options available. Thankfully a new lender had recently entered the market, which doesn't impose a limit on borrowing with other lenders.

Happy that the couple were a good risk, the following terms were offered: