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Experienced Landlord receives offer in four working days

Experienced Landlord receives offer in four working days

The Client: Our client was an experienced landlord, who already owns two buy-to-let properties. Their experience put our client into a good position to obtain a mortgage on a new property, making them less of a risk for lenders.  

The Property: Our client was looking to purchase a two-bedroom house in the Midlands. This end-of-terrace property was situated just on the outskirts of a busy city. 

Reason For Finance: Our client wanted to secure a mortgage in order to expand their current portfolio and purchase a new property.  

Challenges Faced: Our client wanted to keep their costs down across their portfolio, so we were challenged to find a suitable rate for our client at the lowest price, making their purchase affordable and profitable. The caveat with this rate was that our lender needed proof that the property had an EPC (Energy Performance Certificate) between A-C to qualify. 

The Solution: After submitting our client’s application, a full physical valuation of the property was requested by the lender. Having reviewed the property and seen that it met the EPC requirements, the lender was happy to offer. From our extensive industry knowledge and access, we were able to secure our client the best rate and ensure an efficient deal, as our lender offered only four working days after our submission.  

We would love to have a discussion to hear about how we can help you, submit an enquiry here. Here are the details of the above case:  

Property Details

Property value: £210,000 

Loan amount: £147,000 

LTV: 70%  

Rate: 2.88% on a seven-year fixed term  

Term: 25 years, interest only 

Mortgage Payment: £356 per calendar month 

Lender arrangement fee: 1% added to the loan 

Consultant: Agata Rogozinska, 01732 471602 

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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Registered office:
17 Kings Hill Avenue,
Kings Hill, West Malling,
ME19 4UA.

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Mortgages for Business Ltd is authorised and regulated by the Finance Conduct Authority (No. 313537) to transact regulated mortgages. We are a credit broker, not a lender. We work with the whole of market in sourcing a lender for you; we may receive a commission from the lender, and this amount varies between lenders. The FCA does not regulate some investment mortgage contracts. Mortgages for Business Ltd is a founding member of the National Association of Commercial Finance Brokers, the body that promotes best practice within the commercial finance industry. Telephone calls may be monitored or recorded for training purposes.

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