Offer to completion in one week for capital raising on unencumbered buy to let
We were approached by an experienced landlord with a modest property portfolio looking refinance one of his rental properties – a two bed terraced house in Newcastle upon Tyne.
The client planned to use the capital raised to expand his portfolio with the purchase of a further buy to let property.
In addition to looking after his property portfolio, the client is also a self-employed mechanic.
With his eyes already set on another property, the client wanted the transaction to go through as quickly as possible. To help with this we asked that he provide us with following documentation to ensure that there would be no hold ups:
- Completed application form
- Proof of identification
- Proof of residency
- Copies of latest 3 months’ bank statements
- Proof of income
- A copy of the current tenancy agreement
Once received we sent the application over to an intermediary only lender and received an offer back the following week. The client accepted the terms with the added bonus of no valuation or legal fees and the case completed a week later.