A broker approached us for finance for his client who is an ex-pat living in Australia.
The client was looking to purchase her first buy to let property – a 1–bed flat in a newly built block of flats in Manchester.
The broker had experienced difficulties placing this case with other lenders for two main reasons; the client is:
• A first-time landlord
• An ex-pat
The client works for an international recruitment company, earning a good salary, so her profile fitted the Keystone Solutions Range.
Accordingly we were able to offer the following deal:
Property value: £115,000
Loan amount: £85,000
LTV: 74%
Range: Keystone Solutions for Individuals
Product: 8.49% fixed for 3 years
Terms: 3 years interest only
Rent: £650pcm
Gross yield: 6.8% pa
Monthly mortgage payment: £601pcm
Facility fee: 3% (£2,550)
Broker proc fee: 1% (£850)
Consultant: Gareth Richards
Call: 01732 471627
