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Successful Completion: Mortgage Secured for Multi Unit in Croydon

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.

 

Successful Completion: Mortgage Secured for Multi Unit in Kent

Helping Property Investors Achieve Their Goals

🌟 Mortgage Completed for Portfolio Landlord

We’re pleased to announce the successful completion of a new build Buy To Let Multi Unit Freehold Block for an existing Portfolio Landlord in Kent. This deal is another example of how we support property investors to grow their portfolios.

📍 Property Details:

-Type of Property: Multi Unit of seven units with twelve bedrooms
-Location: Kent
-Value: £1,500,000
-Loan-to-Value (LTV): 50%
-Mortgage Type: Interest Only for 30 years

🏦 Issues to Overcome

The lender we selected had a maximum number of six units for their product which had a fixed fee which is rare as most are percentage based.

We discussed the case with both the sales team and underwriters prior to submission and asked if they would make an exception to their policy which they agreed.

This saved the client approximately £28,000 over the five period of the product compared to the next option.

 

Searchlight Finance Ltd is a broker not a lender.

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We are a credit broker not a lender.

Searchlight Finance Ltd is registered at 98, King Street, Knutsford, Cheshire, WA16 6HQ. Company Register number is 07929050.

Authorised and Regulated by the Financial Conduct Authority. Our FCA registration number is 743220. You can check via www.register.fca.org.

We are registered with the Information Commissioner’s Office, Z3109319 and you can check via www.ico.org.uk.

We conduct both regulated and unregulated business and therefore not all products provided through us are regulated by the Financial Conduct Authority.

We source finance from the whole of market and may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.

Member of National Association of Commercial Finance Brokers (NACFB).