Mortgage offer with full retention of funds pending conversion

The client was purchasing a new primary residence, however at the point of agreeing the sale it was split into three flats.

None of the high street lenders were interested in making a formal mortgage offer before the property was converted into one habitable dwelling. However, we found a specialist lender who agreed to offer with a full retention.

This meant that the client exchanged contracts, did the necessary work, then the surveyor re-inspected and valued the property and the retention was removed, allowing the funds to be released.

Here are the details of the deal:

Purchase price: £700,000

Loan amount: £425,000

LTV: 60%

Rates: 2.99% 5 year fixed

Terms: 20 years capital & interest repayment

Arrangement fee: £999

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.


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