At UK Property Finance, we’re always proud to share our success stories with the world. Having recently assisted two more clients with what seemed like difficult tasks, we’ve once again demonstrated our capacity to perform when put to the test.
Along with a cost-effective remortgage in just 9 days for one client, we successfully organised two main-stream mortgages for an experienced investor with complicated requirements.
Here’s how the team at UK Property Finance handled these challenging cases:
Case 1: Scott—9-Day Remortgage
Our Northern Irish clients were looking to urgently raise funds by way of a first-charge mortgage on their unencumbered main residence to consolidate historic gambling debts, repay expensive payday loans, and carry out some major upgrading works inside the home.
Both clients were self-employed and had an adverse credit history. UK Property Finance was able to clearly relay the client’s circumstances and source the most competitive fixed-rate deal in the market that met their needs and preferences. They were also able to use the lender’s solicitors at no cost to them.
Our UK-wide document collection company met with our clients on the same day as initial contact, and all required information was immediately gathered from the client at the start of the application process. This meant that once the application was submitted, UK Property Finance was able to process the application immediately, and completion took place nine days after initial contact with minimal further involvement from our clients.
Case 2: Levy: two mortgages to purchase a new investment property
Our client was looking to purchase a buy-to-let (BTL) property, which they intended to convert to a house of multiple occupancy (HMO) to increase the value and potential rental yield. They had a small amount in savings and wanted a mortgage for the remainder of the purchase price. However, due to the condition of the property, they were not able to raise all they needed to borrow by way of a first-charge mortgage on the property to be purchased.
Luckily for our clients, they had an unencumbered residential property they were willing to use to raise the extra funds. UK Property Finance were able to remortgage their residential property to raise capital towards the purchase, with the remainder coming from a mortgage on the purchase property.
We were able to obtain a mainstream deal for our client by utilising our excellent lender relationships and by clearly explaining to the lender the nature and timeframe involved in the work needed to finish the HMO conversion. The lender, as such, provided our client with a mainstream BTL product.
Due to our streamlined processing route, UK Property Finance was able to process the cases quickly and efficiently and negotiate with the client’s solicitors in order to ensure that both mortgages were completed simultaneously. The client now has a further investment property added to his portfolio.
Ask the experts…
At UK Property Finance, challenging cases and urgent financial requirements are our forte. Whatever your requirements, however many times you’ve been turned down elsewhere, we’ll help you access the finance you need at a price you can afford. Contact a member of the team at UK Property Finance anytime for more information.