Interest Rate 6.99%
3% Fee added to loan
We were referred to a client who was looking to purchase a semi commercial property.
The client had become frustrated with a perceived lack of interest shown by lenders due to his relative inexperience as a Landlord, and not a great deal of personal assets behind him.
Despite having a healthy deposit, our client lived in rental accommodation, and that coupled with the fact that he didn’t have any experience as a Landlord, deterred a lot of lenders.
We have access to a broad variety of lenders and very quickly were able to get a loan agreed with one who took a pragmatic view to the risk, meaning our client was able to complete on the purchase using a commercial mortgage and start what hopefully will become a decent property portfolio.