Expertise in real-life lending helps deliver on complex BTL mortgage case
Tuesday, January 24, 2023
Expertise in real-life lending helps deliver on complex BTL mortgage case
When it comes to buy-to-let lending, there can be added layers of complexity to navigate in a case. But with our real-life lending approach, we take each set of challenges in our stride to help make it happen and make the journey as smooth as possible for your client.
In a recent case, we helped an experienced BTL landlord in expanding their property portfolio. We did this by refinancing seven of their existing properties in order to purchase another seven, bringing the total number of applications we managed to 14 in one go. We were approached by specialist property finance comparison site, Propp, to navigate this case and understand the intricacies involved to offer the best products possible for their client.
Collaboration and communication were imperative throughout the process as each stage brought its own learning opportunities. Largely handled by Keith Campsie on the BDM team, we also engaged with various other parts of the business, including mortgage admin, new lending, sales, the portfolio team and underwriting.
In working together and managing numerous moving parts, we delivered on the 14 mortgage applications within an 8 week period, providing a majority of properties with 5-year products, with a 65% LTV on new purchases, and either a 70% or 75% LTV on remortgages.