£750,000 Sourced for HMO Property in East Yorkshire

We recently supported one of our clients by sourcing a loan of £750,000 to refinance a HMO property in East Yorkshire.

The HMO is a block of 11 apartments, which is currently being rented out to tenants.

This was our first time working with this client after they were referred to us by one of our introducers.

What were the client’s objectives?

The client already owned the HMO property, which was valued at £1,000,000, and they wanted to refinance £750,000 of the property.

What solutions did we offer?

Refinancing a property involves finding a new mortgage to pay off the current mortgage on a property. Our client wanted to receive the mortgage from a specific lender, so we approached them directly to negotiate the best financial solution.

After liaising with the lender and solicitors on behalf of our client, we were able to source the full loan of £750,000, so they were able to refinance their property.

How did we ensure success?

From the beginning of this case to the end, our commercial mortgage team guided our client through the process, ensuring we maintained a great communication line between our client, their solicitor and the lender.

We were able to promptly find the most suitable financial solution to meet the client’s requirements, leaving them extremely satisfied.

Summary:

• £750,000 refinance loan sourced for a HMO property of 11 apartments in East Yorkshire.
• Our expert team provided our client with access to the finance required for their HMO property, which left our client extremely satisfied.
• We maintained excellent communication between our client and the lender.