Buy to Let Mortgage

Dec 20 2016

Situation

An established landlord urgently needed to refinance one of his buy to let properties to help stabilise his finances. He’d serviced the current mortgage with no issues, the property had a sound rental income and he was looking for a long-term interest only deal.

Product

We were able to offer a ten year interest-only mortgage to the landlord from our Buy to let product range.

Outcome

The same day the enquiry was received we were able to issue a Conditional Offer. A Formal Loan Offer was issued just nine days later and completion occurred shortly after. The customer was delighted with our service and how quickly we were able to turn things around.

Loan amount

£225,000

Property value

£300,000

Loan to Value (LTV)

75%

Product

Standard Buy to Let

Borrower

Private sole trader

Term

10 year interest only

Monthly mortgage payments

£1045 per month

Property type

BTL

Rate arranged

5.50%

Lender arrangement fee

1.7%

Application to offer

1 working day