Large Buy to Let Remortgage

THE SCENARIO

Our client approached us looking for a large buy to let remortgage of 60% loan to value against £1.6 million valuation.

He wanted to structure the mortgage by setting it up in an LTD company name. However, none of the banks he had approached would consider the application.

The maximum loan size on the high street would be £500,000, with fees of 2.5% and a rate of around 4% which didn’t make sense to the client.

OUR SOLUTION

We approached a private bank on his behalf and managed to secure a facility for the client at LIBOR + 2.5%. In addition, further properties can be switched over time into the LTD company name and added to the portfolio without the terms being affected.

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