Buy to let mortgage at low stress test for London yields
The Scenario
Our portfolio landlord client needed a BTL mortgage as his exit from a £350K bridge arranged six months previously.
He’d bought a nice little terraced house in London’s desirable Walthamstow valued at £500K. Having completed a light refurbishment throughout and put in an attic conversion it was now valued at £725K, . He wanted to raise an additional £200K on the uplift in value to finance his next project.
The Solution
London’s high property prices mean rental yields are comparatively low compared with the rest of the country. With every property a portfolio landlord owns needing to show positive returns, we introduced our client to a lender who would stress rental returns below the standard for high street banks: at 125% rather than 145%.
We got him a 30-year term, interest-only, at a rate of 3.29% for a five-year fix (avoiding the additional 2% loading common from high street lenders).
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need.
Mathew Phillips
Finance Broker
Bristol
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.
Luther Yeates
Senior Finance Broker
Bristol
0117 244 5561
Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange a time that's convenient for you to discuss your situation.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.
Adam Arnott
Associate Director
Bristol
0117 205 0214
Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.