+
CLOSE
+
CLOSE
Register

By submitting this form you confirm that are happy to submit your data, which will be used solely for the purposes of my above enquiry

+
CLOSE
Quick Enquiry

By submitting this form you confirm that are happy to submit your data, which will be used solely for the purposes of my above enquiry

Purchase of 4 Holiday Let cottages

Deal Structure

70% Loan To Value

10 year Interest Only

Interest @ 3.99% Over Base rate

0.75% Arrangement Fee

Deal Summary

After a busy working life our clients were looking to retire and whilst they wanted to slow down, they didn’t want to give up work completely.

They had in the past stayed at a cottage in Scotland and when it came up for sale along with three others, they were keen to see if they could purchase them and operate them as Holiday Lets.

They had a pot of savings and were able to take a lump sum from their pensions but had little in the way of experience in the sector.

We contacted some lenders who specialise in Holiday Buy to Let finance and discussed the viability with them, and agreed on a broad approach which would see the clients prepare a business plan and financial projections.

We then presented the business plan along with supporting documents to the lender who could see that it was well thought out, and with supporting information from a lettings firm to confirm the rental potential, the lender was comfortable with the projections.

The lender made an offer of £420,000 against a combined purchase price of £600,000 on an interest only basis for 10 years

Simon Parkinson

Contact

Simon Parkinson

Quick Enquiry

By submitting this form you confirm that you are happy to submit your data, which will be used solely for the purposes of your enquiry. You can view our Privacy Policy here.

Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Bedford House, 60 Chorley New Road, Bolton, BL1 4DA . Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.

We are a credit broker, not a lender. We work with a panel of lenders who may pay us a commission. This amount varies between lenders.

/* */