The Case
A directly authorised mortgage broker referred a semi commercial purchase to us, as they were struggling to place with a lender due to the property being a hot food takeaway with a residential flat on the first floor. Client was looking for 70% loan to value and had no proof of income. The case was further complicated due to the client residing between the UK and Hong Kong and her English was poor.
The Solution:
We placed this case with one of our lenders due to the type of property and the fact that they would underwrite the case using the projected rental income to support the mortgage on a self-funding basis. We also managed to overcome the language barrier with the client using a native speaking solicitor with offices in both London and Hong Kong.
Outcome:
Accrording to our secured loan repayment calculator Our lender offered terms at 7.99% variable on a £100K loan, which is our exclusive semi commercial rate not available to brokers who deal with the lender directly.
Get in touch
Lending Expert
Loan Amount
£10,000 - £500,000
Representative APRC
%
Loan Term
1 - 33 years
Loan Type
Secured & Homeowner Loans
Status
Homeowners Only
Max LTV 100
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