This case study details the market leading, 60% loan to value mortgage we arranged on a multi-unit block of 14 houses and flats.
Our clients' proposition
Our clients run a successful business. They wanted to diversify into property, and found a multi-unit block in central London. They wanted to buy the property through a holding company, with part of it held in trust for their children. Although they had one buy to let in their personal names, adding another 14 units would be quite the increase in the portfolio.
Alexander Hall's solution
We sourced a lender with a market leading rate, that was prepared to lend to the client despite their lack of landlord experience. They saw the strength of the business they had built, and simply asked for a cross company guarantee. Post offer, during the legal process, it was revealed that some of the units were let on an HMO (house of multiple occupancy) basis as opposed to a standard tenancy. Undeterred, the lender split the loan in two, and offered part on their HMO product and the rest on their standard buy to let product. What’s more, they offered the rate they would have received at the point of application, which saved the client close to £300,000 in interest over the 5 year period. Needless to say the clients were delighted with the outcome, and are now looking for a similar opportunity.
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