+
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

Refinance of HMO development for Ex Pats with non-standard payment history

Deal Structure

60% Loan To value

Interest Rate 5.5% Over Base

2% Arrangement Fee

20 years term.

Deal Summary

A Limited Company was owned by two expats both living and working on opposite sides of the world. The company had bought and developed a large house in the North East, transforming it into a high-quality HMO property with 6 rooms.

The property was valued at £350k and the clients were looking to recoup the money they had spent on the project, so they could move onto another similar project they had targeted in the same area.

As well as both being Ex Pats, the payment history on a previous loan was patchy and whilst the loan was up to date, there was evidence of regular late payments.

We managed to find a lender who could get comfortable with the Ex Pat situation along with the detailed explanation and reasons we gave for the late payments.

We arranged a Commercial Mortgage facility of £210k, at 68% Loan to value, which was more than sufficient for them to move on to their next project.

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 1 Harvey Street, Bury BL8 1NL. 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.

/* */