Application to offer within one week – refinance of Buy to Let property

Deal Structure

75% LTV

Interest only

Interest Rate 4.59% Fixed for 5 years

6% Arrangement Fee added to the loan

£525k loan amount

Deal Summary

Our professional Property Developer client had finished a Refurbishment project on a property in the North West and 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 some lenders who utilised Automated valuations (“AVM”) which would speed the process up, however we still needed a loan to value of 75% to make the deal work, which isn’t commonly available using an AVM..

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. Due to use knowing the lender well, we knew exactly what information they would require to fully underwrite the deal and we were able to submit a fully packaged application to them.

Our knowledge of the market and lenders requirement meant we were able to get the case to offer within one week meaning that the client stands a great chance of repaying the Bridging loan off before penalty interest kicks in.

Contact Simon Parkinson

07775 671 680

[email protected]