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Quick Enquiry
Application to offer within one week – refinance of Buy to Let property
Deal Structure
75% LTV
Interest only
Interest Rate 4.54% fixed for 5 years
6% Arrangement Fee
£675k raised
Deal Summary
Our professional property Development client had finished a refurbishment project on a property in the North West but due to delays he encountered with his contractor he was under pressure to repay his bridging loan before it expired.
With time being of the essence, we approached lenders who utilised Automated valuations which would speed the process up, however we still needed a Loan to Value of 75% to make the deal work, which isn’t widely available.
Luckily for the client we knew of a lender who could accommodate both the AVM aspect as well as the 75% LTV. We discussed the lenders products with the client and proceeded to application. As we know the lender well, we knew exactly what information they would require to fully underwrite the deal and as such we were able to send a fully packaged application to them.
Because of our knowledge of the market and lenders requirement we were able to get the case to Formal Offer within one week meaning that the client was able to repay the expensive Bridging loan off before penalty interest kicked in.
Contact Simon Parkinson
07775 671 680
Contact
Simon Parkinson On 07775 671 680 or message here
Quick Enquiry
