Case Study
Stephanie Healey, supported by Keagan Cole, successfully arranged a £500,000 development exit remortgage at 65% LTV on a 6.09% rate. An Agreement in Principle was obtained within 24 hours, with the full mortgage offer issued in four weeks, ensuring the project exited on time.
The clients had built a timber-framed property and wished to retain it as a holiday let investment rather than sell on completion. The property was subject to a title restriction limiting its use solely as a holiday let, which reduced the pool of suitable lenders.
Further complexities included the clients being non-owner occupiers with no prior buy-to-let or landlord experience, as well as this being their first development project. In addition, the property was owned by a trading limited company set up specifically for development purposes.
Despite these challenges, Stephanie Healey structured the case effectively and secured a lender comfortable with the construction type, usage restriction, and ownership structure, enabling the clients to refinance successfully and retain the property as a long-term investment.
Review:
“Great service! Great service from Steph, Keagan and Molly as I have come to expect when working with Brightstar. Helped secure an offer in good timing for a customer who had lost hope at this point.
Thanks team and look forward to working with you again!”
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