75% Loan To value
Interest Rate fixed for 5 years @ 3.99%
1.5% Arrangement Fee
10 years Interest Only
Our experienced developer client had purchased a large property and reconfigured it into a 7 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 trying to refinance 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 shortlist of lenders who we were comfortable and would value the property on an Investment basis.
The client chose a 75% LTV HMO Finance product on a 5-year fixed rate which repaid the development finance and released some equity to enable him to start his next project.