The client is an ex-pat who has been living in Australia for the past three years working in the healthcare industry. He has two buy to let properties in the UK, one of which is a six bed HMO.

He was looking to refinance the HMO to raise capital and expand his property portfolio.

His ex-pat status along with the property being a HMO was proving problematic with mainstream buy to let lenders. We decided the best option was to contact a peer to peer lender who assesses applications on a case by case basis.

The chosen lender was happy with the clients experience and income and agreed to lend on the property. Here are the details of the deal:

Property value: £375,000

Loan amount: £281,250

Loan to value: 75%

Rate: 4.39% term tracker

Term: 10 years interest only

Monthly mortgage payment: £1,029

Monthly rental income: £3,500

Annual gross yield: 11.20%

Lender arrangement fee: 2%

Consultant: Jeni Browne 01732 471647