The Client: A city worker approached us looking to raise capital against his sole rental property. The client planned to use the capital raised to clear his residential mortgage.  

The Property: A modern two-bed flat in a sought-after location in Essex. Just a 10 minute walk from the main line station, the property has great appeal to those working within London. The property in questions is held within the client’s SPV limited company.

The Finance: The client was looking to raise £150k in total, which would be used to repay the mortgage on his home.

The Application Process: The challenge was to find a lender which would consider this type of capital raising. Having dealt with similar cases in the past, we knew what options would be available to the client.

We took the case to an intermediary only lender, which is currently offering some competitive five year fixed rates to SPVs. On receipt of application the lender asked to see three months’ personal payslips, proof of address and ID.

The case completed just four weeks after the offer was received. Here are the details of the deal: