Our products are structured to give your clients the flexibility they need. Here’s an example of how:
The client:
The client was an experienced landlord operating through a Limited Company. They were looking for a loan to purchase a holiday let property located in a popular holiday region.
The situation:
The client was looking to raise 70% LTV to purchase the property and make some improvements to improve marketability and rental yield. However, the COVID-19 restrictions severely restricted the client’s ability to take on bookings, which would have made it difficult to service a loan whilst the lockdown was in place.
The solution:
Seeing the potential of a large property in a popular holiday location, we were able to provide our Buy to Let bridging loan with a term of 9 months at a rate of 0.67% pcm. This allowed the client to purchase the property without the need to service the interest, and accumulate bookings during that period ready for when restrictions were eased.
Have a case to discuss?
Give us a call or contact your BDM today to see how we can help you.