Landlord with 100+ properties raises capital on coastal town house
The client: An existing client of Mortgages for Business looking to raise capital to expand his portfolio. The client’s portfolio consists of 100+ properties in the south of the UK.
The property: The client was looking to refinance a three-bed terraced house, a stone’s throw away from the sea front in Kent.
The finance: Hoping to release £30k from the property for further investment, the client was looking to borrow at 75% loan to value via his SPV Ltd Co.
The application: Working closely with this client on a regular basis, we already had an up-to-date property portfolio spreadsheet along with supporting documentation. This really enabled us to speed up the process!
We submitted the case and within two weeks a formal mortgage offer was received. The funds were released without a hitch.
Here are the details of the deal: