Our clients are two experienced landlords with property in Merseyside. One is a finance director and the other a successful furniture maker.
They had previously purchased a run-down house opposite large molasses storage tanks and a vehicle service area. Having developed the property they were looking for refinance to pay off the original bridging loan. The location was deterring most lenders, however, we were able to find a BTL lender that was will to take a view following the valuer’s comments.
Here are the details of the deal:
Property value: £60,000
Loan amount: £45,000
Loan to value: 75%
Term: 25 years interest only
Rate: 4.29% fixed for 2 years. £600 cash back and refund of valuation
Lender arrangement fee: £995
Completion date: April 2014
This is just one example of how I've helped a client secure finance. To see more of my case studies please visit my profile page. And if you have any funding requirements, please do not hesitate to contact me. My direct line and email address can be found below.
30th April 2014