
Exit for BTL bridging loan with capital release to buy another investment property
We’re in on the ground with these two business partners, helping them to expand their growing property portfolio. And we’re not just providing the fast, short-term property purchase finance they came looking for, but also a speedy exit onto the long-term mortgage which will repay it.
The Scenario
These clients sold the business they jointly owned and used the proceeds to buy a first buy-to-let flat with cash.
We arranged a bridging loan secured against that apartment to help buy their second rental property – another office-conversion apartment. They’d needed a quick injection of additional cash for the second down payment on the purchase.
Four months later, they came back to us to arrange the buy-to-let mortgage as exit on that lending, and also to raise an additional £50K to enable them to buy a third rental property.
They’d looked around at various BTL options as their exit, but one of the business partners had some credit issues, which limited the number of willing lenders.
They were also wanting to be able to top up the rental income (£750 a month) with external income, which not all lenders are happy with.
The Solution
After looking at a range of options for them, we took their application to the BTL department of their original bridging lenders, who we knew would be willing to consider their circumstances.
They did require a new valuation because the client’s previous 50% LTV on their bridging loan had only required a drive-by-valuation.
But there were some advantages to using the lender who already held the documentation on this property and who we knew would offer a good rate and act quickly. And we secured them a competitive rate for the 20-year BTL variable mortgage they wanted, at 5.99%pa.
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
George Abouzolof
Finance Broker
Bristol
0117 403 3444
Do you need help sourcing your own property finance?
I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
Sam Baker
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Fergus Allen
Finance Broker
Cardiff
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.
Book a free telephone consultation with me at a time to suit you
Jacob Phipps
Finance Broker
Bristol
(+44) 0117 959 5094
Are you looking for a similar type of property finance?
I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Mathew Phillips
Senior 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.
Book a free telephone consultation with me at a time to suit you
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.
Book a telephone consultation at a time that suits you:
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. Book a free telephone consultation with me at a time to suit you.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar?
I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you
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.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214