This client thought this mountain was impossible to climb
CHALLENGE We were asked to assist a credit impaired client who was seeking to become a first time landlord. He was looking to extend the lease on a semi-commercial property that had 7 years remaining and also start up a property portfolio to generate an additional source of income. The client was looking to borrow £250,000 on a 10 year interest only basis at the lowest rate available.
SOLUTION We ensured we understood the fine detail behind the credit issues and discussed these directly with the underwriters, then packaged the deal to demonstrate that notwithstanding the credit issues and clients lack of experience, this was a viable proposition.
RESULT Given the clients credit profile and the fact they were first time landlords, this was an excellent result that the client didn’t think was possible. The client was understandably delighted and has already engaged us to support their next property purchase.