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Full-time landlord remortgages and raises capital

We were approached by a full time landlord with more than 20 years’ experience and a portfolio of 15 properties all owned in a SPV limited company.

The landlord was looking to remortgage a 4-bed semi-detached house in Greater London to get a more competitive rate and raise capital.

After providing the client with a variety of options, the landlord chose this product because of its competitive rate and flat arrangement fee.

The application was processed in a timely fashion with no hitches.

Here are the details of the deal:

Property value: £800,000

Loan amount: £400,000

LTV: 50%

Rate: 3.55% 3 year fixed

Term: 20 years interest only

Mortgage payment: £1,187 pcm

Lender arrangement fee: £1,499

Rental income: £2,500 pcm

Gross yield: 3.75% pa

 

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NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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