Submission to completion in just eight weeks for portfolio landlord
The Client: Our client was an experienced landlord who was looking to expand their portfolio by purchasing their first HMO (House in Multiple Occupancy) through their limited company.
The Property: The property that the client was looking to purchase was a six-bedroom detached house in the heart of the student area, just outside of a busy city with a large university.
The Finance: Our client was looking to purchase the property through their limited company and had a 25% deposit. They were looking for a mortgage to finance the rest of their purchase.
The Challenge: In this instance, the client’s case was fairly straight forward, and we needed to source the best rate from a lender that was happy to offer to portfolio landlords and who accepted both student tenants and HMO properties. Both of the latter aspects add an element of risk for lenders, which reduces the number of lender options for our client.
The Solution: As a team of specialist brokers, we were able to source a lender who was more than happy to offer on HMOs and Student flats. Due to our experience with these types of properties and tenants, the case was successfully submitted and completed in a very quick eight weeks, providing our client with the top-quality service that they were after. Here are the details: