Case Study
This client was looking to capital raise on their 7-bed HMO, valued at £950,000, to expand their BTL portfolio. They needed 70% LTV, but there was a challenge –
Adverse Credit Issues:
- Status 3 on a credit card
- Sporadic Status 1 on their BTL mortgage in the last 6 months
The Solution:
Specialist Mortgage Consultant Stacey Forrester secured a lender that:
- Ignores unsecured adverse
- Allows up to Status 2 on secured arrears in the last 24 months
The deal was place on a 5-year fixed at 7.5% with a 2% product fee added to the loan. The introducing broker received £2,826.40 for the referral.
Subject to status. Product and criteria availability is subject to change or withdrawal at any time. For intermediaries only.
