After completing a deal for a client we were grateful to receive an introduction to one of their friends, a real endorsement of having done a good job previously.
The new borrower needed finance to permit the refurbishment of a residential property that had suffered fire damage. As a professional landlord, borrowing in his sole name, the borrower had built a high yielding portfolio of residential investment properties so location and asset quality were a challenge for most lenders.
Securing competitively priced finance was difficult and the lenders the borrower had approached were unwilling to lend to the asset in its current condition. Being able to help clients add value to properties by securing flexible finance is something we enjoy.
The buy to let landlord had bought the property cash at auction and quickly needed finance to ensure the property became revenue generative quickly. Within a week of being engaged we had credit backed terms for the loan and had progressed to valuation stage.
We completed a whole of market search and recommended a ‘new to Scotland lender’ who were able to quickly grasp the transaction. We were able to prove the lenders appetite for this transaction by cross checking with heads of terms from another recent completion with this lender. By negotiating hard for the borrower we managed to secure an interest rate and arrangement fee much better than the market rate quoted by this lender. This reduction in cost more than covered our fee.
Brokering the transaction at Conduit Finance, Edward Page said; “It was a pleasure to assist this client and advise on the best funding option. I worked closely with the client to drive the process forward and arrange all supporting documentation, the valuation and legals. All parties were delighted to complete the process quickly to ensure the client was on site promptly.”
We have been engaged to source and deliver the long term buy to let finance which, with interest rates an all-time low, will be on competitive terms.
Conduit Finance is from the outset, focused on providing a clear process, transparency of information flow and fees charged which leads to reduced deliverability risk and high levels of borrower satisfaction.
Get in touch with a member of the team to access the best cost of finance from new and established lenders:
Jamie Davidson | Loans over £10m and restructuring | Jamie@ConduitFinance.com
Andy Lawson | Loans over £1m | Andy.Lawson@ConduitFinance.com
Edward Page | Loans under £1m | Edward@ConduitFinance.com
Sean Crombie | Business Development | Sean@ConduitFinance.com
Mark Reidy | Business Development | Mark@ConduitFinance.com