OUR LATEST COMPLETIONS

The latest completions from our team of financial experts.

Completions
709, 2020

Multi Unit Freehold Block Mortgage | 20 Years | £330,000

September 7th, 2020|

Mortgage of a recently converted single dwelling into a Multi Unit Freehold Block (4 units) where one of the units has already been sold on a single title. The client advised that two of the units were below the industry standard of 30sqm and we were able to source a funder who could assist during the COVID-19 lockdown. There were issues with the clients taking mortgage payment holidays on other properties and a BBLS within their portfolio which we were able to overcome. The client was able to use these funds to replenish the cash used to complete the renovation as well as provide additional funds for further investment purposes.

2107, 2020

Bridging Loan | 1 Year | £52,500

July 21st, 2020|

The customer agreed to purchase a property at auction during the COVID-19 pandemic, initially approaching a different broker to arrange funding for him. Following advice from his broker he applied for a buy-to-let mortgage on this property which fell through leaving our customer without funding and only a matter of days to arrange funding and complete on the purchase. When he contacted us and explained the situation our recommendation was a bridging loan to ensure he completes on the property in a timely manner. The lender instructed valuation within just a few hours of receiving the application form and booked in the valuation for just 2 days later. The valuation report was received back shortly after the appointment leaving us in a position to instruct legal and complete on the purchase with days to spare.

1307, 2020

BTL Purchase | 20 Years | £60,000

July 13th, 2020|

Our clients came to us looking to purchase several additional BTL properties at the same time, in an attempt to geographically diversify their portfolio. This proved quite tricky due to the low property values and the distance from the investment properties and the clients home town. However, due to our knowledge in the sector and lender relationships, we were able to place the deal at a competitive rate. Despite the properties being unrelated, we were able to work with the lenders and clients legal team to complete both properties simultaneously.

707, 2020

CBILS & Commercial Loan | 6 Years | £235,000

July 7th, 2020|

Based in South Wales, a local construction company established for over 10 years were secured a total funding of £235000 to support covering overheads costs and working capital during the current COVID 19 crisis. This proved to be a complex case, supported by our expertise in working with the management team and their accountants to produce a robust cash flow projection to support the request. A detailed report to the client’s bankers were submitted, resulting in a speedy decision that provided furloughed staff the opportunity to return to work and sub-contractors to restart on site. The funding will also support the company as lockdown eases and sites re-opening thus negating the adverse initial impact this would have had on cash flow.

2606, 2020

Residential Refurbishment | 12 Months | £90,000

June 26th, 2020|

A client needed short term finance to fund the refurbishment of a property they recently inherited. The client plans to move into the inherited property once the work is complete. Our team managed to secure a bridging loan against their current property, allowing them to raise funds for the refurbishment. The relatively low-risk meant that the lender was able to reach a low rate of only 0.54% for a 12-month term—a great example of how a bridging loan can be used to fund a refurbishment.

2406, 2020

Buy-to-let Remortgage | 20 Years | £1,625,000

June 24th, 2020|

We recently worked on raising Development Finance following the conversion of an old hotel into ten separate units under one freehold. With the can-do attitude of the lender, surveyors, tenacious chasing by our team and close working relationships with solicitors acting for all parties, we were able to get this completed despite the restrictions due to the Covid-19 lockdown.