Loan Size: £50,000
Rate: 7.99% From Secured Loan Calculator
A directly authorised mortgage broker referred a client who was looking to raise £50,000 to purchase a BTL. Client’s only security was his residential home and to complicate the case further the client advised us he had only been self-employed for four months.
We placed this case with one of our lenders who offer a residential business loan product on a 2nd charge basis up to 75% LTV and advised the client that we could accept an accountants certificate projecting the current year’s net profit which was acceptable to the lender following a referral.
The client’s accountant provided an accountants certificate and our lender offered terms at 7.99% variable, which is our exclusive semi commercial rate. The client was very pleased with this solution and the introducing broker was very happy too as mainstream lenders could not help and the deal completed within three weeks.
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This provider is our Expert’s Choice in its category as it won tops marks for the following.
- EXPERTISE & KNOWLEDGE
- CUSTOMER SERVICE
Learn more about how we review and assess the providers here on Lending Expert.
£10,000 - £1,000,000
3 - 35 years
& Buy to Let
Max LTV 100%
Our award winning broker of the year have made it to the top of our list as our No 1 recommended provider for homeowner and buy to let loans. They are independent and have access to the major lenders in the market.
Representative example: Assumed borrowing of £29,095 over 120 months, with a fixed borrowing rate if 4.4% per annum for the first 60 months, followed by 60 months at the lenders standard variable borrowing rate of 4.05%. There would be 60 monthly instalments of £300.14 followed by 60 instalments if £295.00. Total amount payable £36,016.20 comprised of; loan amount (£260,000); interest (£6918.20); Broker fee (£2600) Lender fee (£465). This would result in an overall cost of 7.1% APRC