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Refinance of 3 detached new-build properties. From application to offer in ten days with no valuation fees to pay.

Deal Structure

 

75% Loan To value

£950k loan

Interest Rate fixed for 5 years @ 5.19%

5% Arrangement Fee

10 years Interest Only

Deal Summary

 

 

Our developer client had recently finished a residential development of 7 detached properties.

He had sold 4 and wanted to retain the 3 remaining units which were attracting a lot of interest from individuals wanting to rent in the area.

With strong rental values, the units stacked up to service Buy to Let loans at 75% LTV which would mean that the client could not only repay the remaining development finance facility, but with the surplus funds raised he could start his next development project earlier than anticipated.

After researching the market, we presented him with several options with the client opting to proceed with a five-year Fixed Rate of 5.19% with a 5% fee added to the loan. The lender even arranged to cover the costs of the valuations!

What really impressed the client was the speed of the process from an initial phone call with us going through the application to the valuations being done, reviewed and offer letters being received and legals instructed within the space of just 10 business days.

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 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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