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Purchase of luxury detached BTL property

Deal Structure

 

70% Loan To value

£550k loan

Interest Rate variable @ 7.99%

2.5% Arrangement Fee

10 years Interest Only

Deal Summary

 

Our client purchased a luxury detached property which she intended to let out on an AST, but with a view to selling in the long term to realise the capital growth the property should achieve.

Although the property commanded a good level of rental income, with the recent increases in interest rate it still wasn’t sufficient to meet lenders serviceability calculations.

We approached a lender who would look at the case on a holistic basis and take into consideration the clients background income when assessing affordability.

This meant the client was able to obtain a loan of 70% of the value of the property rather than 60% she had been quoted elsewhere, meaning not only did she secure this investment when it looked like the opportunity had been lost, but still had cash left over to start looking for other opportunities.

Contact Simon Parkinson

07503 722 838

[email protected]

Contact

Simon Parkinson

Quick Enquiry

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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.

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