A broker approached us looking to arrange finance for a longstanding client who was hoping to expand his property portfolio.
The client, an experienced landlord, wanted to raise capital on an unencumbered 3-bed semi-detached property located in Manchester.
He wished to complete this transaction through his SPV limited company in which he is the sole director.
- The client does not own his own home
- The client was looking for a high loan-to-value
These challenges reduced the number of funders willing to consider the case.
Fortunately, Keystone were able to help and offer a product from the New Classic Range on the following terms:
Property value: £80,000
Loan amount: £62,550
Rate: 5.19% 3 year fixed
Term: 20 years interest only
Lender arrangement fee: 2.25% (£1,407)
Rental income: £900 pcm
Gross yield: 4.1% pa
Mortgage payments: £271 pcm
Consultant: Gareth Richards