Purchase – Total Loan £74k and £79k
The situation: An existing client with a large investment portfolio, came to us with the need for a short term loan that would allow him to purchase a new investment property to renovate and sell on. He is of a high net worth, clean credit record and over 20 years’ experience in property investment.
The solution: The property was purchased for £105,000.00 and we secured him a loan of £74,933.25 (70% LTV) over an 18 months on an interest only basis. This client also wanted to purchase another investment property for £105,500.00, he needed 70% LTV. The remaining monies coming from his own funds. Again, it was on a short term basis on 18 months on an interest only basis. The total loan was £79,928.80.