houses on stacks of coins

Portfolio Re-mortgage for Disheartened Couple Helps Realise Their Future Investment Plans

15.10.19 | Written by: Jeni Browne

The Clients: A married couple with plenty of landlord experience who invested in property through their SPV Company.

The Properties: The couple owned 6 standard, semi-detached family homes in and around the south of England.

The Finance: The clients existing mortgage terms on the properties were out of any ERC (Early Repayment Charge) periods and they felt that the current slower housing market was an opportune time to make further investments. They wished to re-mortgage their current portfolio and raise some capital with which to buy another property.

The Challenge: While the clients had their portfolio under a commercial loan at a fairly reasonable rate (just under 4%) with a high street lender, they were unable to get any further borrowing with them for future investments. When the clients approached Mortgages for Business, they were resigned to the fact that the lender’s approach was representative of the market, and that they would not be able to move their portfolio forward.

The Solution: With whole of market access, including many lenders that are not available on the high street, we were able to remortgage the whole portfolio to a lower rate and raise the capital needed to invest in another property. To sweeten the deal, the lender we went with had no arrangement fees and free valuations – much to the pleasure of the clients!
Here are the details:

Portfolio value: £4.5m

Loan amount: £3.37m

LTV: 75%

Rate: 3.7% 5-year fixed

Term: 25 years, interest-only

Mortgage payment:  £10,390

Lender arrangement fee: nil

SPV Ltd Co or Trading Ltd Co? SPV Company

Consultant: Jeni Browne, 01732 471647

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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