Helping Property Investors Achieve Their Goals
🌟 Mortgage Completed for Portfolio Landlord
We’re pleased to announce the successful completion of a Buy To Let Multi Unit Freehold Block for an existing Portfolio Landlord in Croydon. This deal is another example of how we support property investors to grow their portfolios.
📍 Property Details:
-Type of Property: Multi Unit of four units with eight bedrooms with a commercial valuation
-Location: Croydon
-Value: £1,100,000
-Loan-to-Value (LTV): 75%
-Mortgage Type: Interest Only for 35 years
🏦 Issues to Overcome
Damp in the cellar. Many lenders would get their valuers to decline the property if any type of retention is required.
Whilst the valuation recommended works that would cost £10,000 when the specialist reports came in £40,000 was quoted.
Working with the client we negotiated with the lender that most of the works weren’t required to make the property mortgageable and to rectify the initial damp identified which saved the client £30,000.