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Buy to let case studies

Case study one

Mrs K has a fulltime job raising her and her husbands children. Whilst this job is very rewarding, the pay generally isn’t. Mrs K owns a buy to let property in her personal name and wished to re-mortgage from a high street variable rate of 5.24% but had no provable income. We managed to secure a 2 year fixed rate mortgage with an interest rate of 1.89%, with no evidence of income required.

Case study two

Mr E developed a building plot of 5 houses, sold 3 and retained 2, He wanted to exit the development finance and retain the 2 properties for investment purposes, but they were held in a trading limited company. The majority of buy to let lenders who lend to limited companies need the company to be a special purpose vehicle (SPV), with the sole purpose to hold property and not trade. We secured Mr E a 75% 5 year product at 3.39%.

Case study three

Mr W is 68 and has a portfolio of 42 properties from where his income is derived. He wished to re-finance the existing debt and extract capital to expand his portfolio. With regulatory and tax changes coming into play, portfolio landlords can be harder to underwrite from a lenders point of view. This, combined with the fact that his income is derived purely from rental properties and his age, made it difficult for him to find a suitable lender. We secured Mr W a tracker rate mortgage with a margin of 2.75% over base, amortised over a term of 15 years.

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