We were recently approached by a client in Chelmsford who wanted to buy a barn with an element of commercial finance. The client had adverse credit history of missed mortgage payments and was unable to prove all of his income.
We remortgaged his residential property onto a regulated let-to-buy mortgage, remortgaged his investment property and raised enough to buy the farm.
We have a client in Basildon who wanted to buy his ex-local authority flat under the Right-to-Buy scheme. He had adverse credit with a CCJ and default and had been declined by two high street banks, one of which was his own bank. We made an approach to a specialist lender and obtained an offer at standard rates, enabling him to proceed with the Right-to-Buy.
There was an enquiry from a GP in Harlow who wanted to remortgage his detached house in Bishops Stortford to buy an investment property. He had various incomes streams from working as a GP, a locum and in Harlow hospital. Due to his adverse credit history he was declined by his existing lender but, we were able to obtain the funding he needed. The whole process took seven weeks start to finish.
One of our long term clients wanted to buy an investment property in Grays. He had no deposit so we remortgaged his existing investment properties at 85% and raised enough to allow him to buy a four bed property as an HMO House of Multiple Occupation,. He is converting the garage into a separate self-contained annexe and will yield 12% per annum.
We have just completed a buy-to-let remortgage of a bungalow in Billericay to a client with income of only £10,200 per annum and raised 70% of the property’s value. This has enabled her to buy two more investment properties