7 x £50k mid terraced properties
The situation: Due to low provable income, this client was struggling to place his 7 property purchase. Most High Street lenders needed provable income via SA302 forms. Although the client showed very good profits, personal income was kept to a minimum.
The solution: A commercial loan was arranged, as the lender was more interested in experience, rental income and overall financial position of the client – basically taking a broader, more sensible approach.