Expanding the portfolio in a sought after location
No Penalty for Early Repayment
Gross Loan Amount: £2,100,000
Market Value: £3,000,000
An existing direct client was looking to purchase an Investment buy to let property a sought after location, to expand their existing property portfolio. The borrower had an offer which was going through with their traditional mortgage lender however, due to recent events this had to be put on hold, which meant they only had 2 weeks left to complete the acquisition.
We offered competitive terms the same day the enquiry was received. Once issued and the borrower paid the fees, we managed to instruct a valuer to inspect the property the following day, with the report due back within 5 working days. Meanwhile, we engaged our solicitor who liaised with the borrowers solicitor to start the legal process.
Speed. We manged to complete within the deadline of 2 weeks which was set by the borrower. The borrower was happy as this meant they did not lose their deposit. They were also happy that they can exit our loan at any time without being penalised, hence they can redeem any time without being charged an Exit Fee.