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Refinance of 10 Bed HMO property

 

Deal Structure

75% Loan To Value

Interest Rate fixed for 5 years @ 5.65%

2% Arrangement Fee

10 years Interest Only

 

Deal Summary

Our experienced developer client had purchased a large property and reconfigured it into a 10 bed HMO utilising one of our Development Finance packages.

At the end of the development they decided they wanted to retain the property within their portfolio but were concerned that any prospective Lender wouldn’t value the property on an “Investment” basis, which had been his experience with HMO properties in the past.

We were able to discuss the case with numerous lenders, explaining the clients concerns around valuation methodology and came up with a lender who would utilise the Investment valuation.

The client utilised a 75% LTV product on a 5-year Fixed Rate which repaid the development finance and provided excess funds to start the next project.

Contact Simon Parkinson

07775 671 680

[email protected]

Simon Parkinson

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 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.

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