Portfolio Landlord remortgages a multi-unit student let property

The Client: Our client was an experienced Landlord whose income came solely from their property investments. Their portfolio consisted of a number of premium student lets.

The Property: The client’s property was held under one title but split into two separate dwellings. The first consisted of a five-bed house, the second was a two-bedroom flat.

The Finance: Our client got in touch with us as they wanted to refinance their existing property, to raise capital through the remortgage to expand their portfolio by purchasing another buy-to-let.

The Challenge: The challenge we faced with this case was that the property was quite complex. We had to find a lender that accepted both the house and flat under one title. Additionally, the lender had to be comfortable lending on student housing and to portfolio landlords.

The final issue with this case was finding a lender who would accept all of the above and be happy with the client’s income just coming from their properties, so we needed to consider several different factors when approaching lenders with this case.

The Solution: With our experience with complex buy-to-let cases and access to the full market of specialist lenders, our market knowledge and research allowed us to identify the lenders who would covered all their specific needs. Due to this, the first lender that we approached (that offered on multi-unit properties) accepted the structure of the deal, to the delight of our client. Here are the details: