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Tier 3 – London

Purchase of Buy To Let – total loan of £150k

The situation: An introducer to Commercial Expert Ltd came to us with a client who had recently moved back to the UK from Spain. The client had no UK credit history and currently lived with relatives. The client also had started a new business in the UK and had no provable income, the client wanted to purchase a Buy To Let property for £450,000 and required £125,000 as a mortgage.

The solution: We approached a Tier 3 Lender who specialise in Ex Pat Buy To Let, this lender required no income on Buy To Let applications subject to the property been self-funding. The loan for £125,000 was over 3 years was agreed, to allow the client to regain a UK credit profile and operate her business to be able to provide proof of income in the future for a refinance in the future.