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 value: £210,000
Loan amount: £147,000
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
5th January 2022