HMO Mortgage for LLP to Secure Buy to Let in Swansea

HMO Mortgage for LLP to Secure Buy to Let in Swansea

Area
Swansea
Capital Raised
£300k

The Scenario

We were approached by an LLP (Limited Liability Partnership) consisting of 4 people, who’d previously purchased an HMO using a bridging loan, and now needed to refinance.

They had used bridging finance to secure the property because it was uninhabitable at the time, and therefore unmortgageable. However, they’d since invested £50k of their bridging funds into renovating the property, and would shortly be getting tenants in.

So, needless to say our clients were keen to refinance onto a buy to let mortgage as soon as possible.

They needed a mortgage of £300k for the £400k property, however, their options were limited because:

  • Not all lenders accept LLP applicants
  • Not all lenders are happy with refinancing a bridging loan (it’s seen as higher risk)
  • Especially if a part of that bridging loan has been used for renovation costs
  • And they didn’t have any tenants in yet, so wanted to use rental estimates for affordability

The Solution

Our client had spoken to estate agents to get a good idea of the potential rental value for the HMO, and we were able to put these to a specialist buy to let mortgage lender.

Despite the challenges of securing an HMO mortgage as an LLP, it’s entirely possible if you speak to a specialist broker with the right market knowledge and industry connections. Unfortunately, if you go it alone, you’re likely to hit roadblock after roadblock, because specialist lenders in this market are difficult to find – in fact, some of them only accept applications through brokers.

Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

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I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you 

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Scott Dutfield

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

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Carly Cheeseman

Head of International

Bristol

0117 457 9922

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I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

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.

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Bristol

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Bristol

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Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

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Bridging Team

Clifton Private Finance

Bristol

0117 959 5094

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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 

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Fergus Allen

Senior 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.

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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 

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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. customDatabaseField-8455

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

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Alex Chambers

Senior Private Client Adviser

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.

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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.

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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.

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