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Refinance to raise capital for further investment

A broker approached us for helping in source a deal for a client who has a large portfolio of rental properties in London and the South East and also works full time.

The client was looking to remortgage a 2-bed terrace house in Greater London which he owns in a long-established SPV limited company.

He preferred a fixed rate but didn’t want to be tied in for as long as five years.

The house is let to professionals and generates a good rent so placing the case with one of the newer specialist lenders was a relatively easy and quick process.

Here are the details of the deal:

Property value: £400,000

Loan amount: £279,699

LTV: 70%

Rate: 4.19% fixed for 2 years

Term: 25 years interest only

Lender arrangement fee: 1.5% (£4,195)

Rental income: £1,650 pcm

Mortgage payment: £977 pcm

Gross yield: 5% pa

Call: Deal Placement Team 0845 148 9238.

Consultant

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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