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Purchase of a take-away with a flat above for investment

Our clients, both employed and with an existing property portfolio, wished to purchase a take-away with accommodation above.

They have incomes of £35,000 and £12,000 pa respectively and already own and manage three investment properties. The building they are looking to purchase is a terraced house, comprising of a take-away business on the ground floor with a 3-bed flat on the first floor. It is currently let on a 5 year lease for over £14,000 per annum to the same tenant.

We were able to find a specialist lender who was happy to lend on this semi-commercial investment purchase.

Property value: £125,000

Loan amount: £90,000

Rate: 5.55% + Lender's LIBOR

Term: 15 Years capital & repayment

LTV: 70%

Lender arrangement fee: 3.5%

Consultant: Charlie London, 01732 471604

 

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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