Non-Regulated Semi Commercial Mortgage With Flat Above Takeaway [Case Study]

Simon Nicholson

Written by Simon Nicholson on May 23, 2018

Updated October 14, 2020

Leading secured loan rates of 3.65%

The Case

A directly authorised mortgage broker referred a semi commercial purchase to us, as they were struggling to place with a lender due to the property being a hot food takeaway with a residential flat on the first floor. Client was looking for 70% loan to value and had no proof of income. The case was further complicated due to the client residing between the UK and Hong Kong and her English was poor.

The Solution:

We placed this case with one of our lenders due to the type of property and the fact that they would underwrite the case using the projected rental income to support the mortgage on a self-funding basis. We also managed to overcome the language barrier with the client using a native speaking solicitor with offices in both London and Hong Kong.

Outcome:

Accrording to our secured loan repayment calculator Our lender offered terms at 7.99% variable on a £100K loan, which is our exclusive semi commercial rate not available to brokers who deal with the lender directly.

Get in touch

Learn More Available via broker only

Lending Expert

Loan Amount
£10,000 - £500,000

Representative APRC
%

Loan Term
1 - 33 years

Loan Type
Secured & Homeowner Loans

Status
Homeowners Only
Max LTV 100

Rated 4.8/ 5

All credit types

Our expert team can compare over 19 secured loan lenders from across the market to find you the perfect loan. Our team are on hand 7 days a week to handle your loan enquiry from initial quoteation right through to when you receive your loan. Homeowner loans for any purpose including popular options such as debt consolidation, home improvements and buy to let properties. Solutions for bad credit applicants and the self employed. Request a quote to see how much you can borrow today.

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