Refinance – Total loan £330k
The situation: An experienced landlord and entrepreneur wanted to refinance three townhouses that they had built. They have had over four years’ experience in letting out and managing five properties. The client had all three houses on one title and did not want to split it, however the bank which we refinanced them agreed they did not need to split the title.
The solution: On completion, the properties were to be let out and added into their property portfolio with the capital raised from the refinance being used to purchase other properties. The total loan was for £330,980.63 over a 5 year period as an interest only loan.