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
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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6th January 2016