Our experienced clients were purchasing a grade II listed building with full planning to convert to 7 x self-contained flats (via a company share purchase)
Security; Three storey mid-terrace Grade II listed building
Purchase price £1m
Day 1 loan; £706,068
Refurb element; £493,700
Total Gross facility; £1,316,000
Day 1 OMV; £944,151 75% LTV
GDV; £1.880m
LTGDV; 70%
Term; 12mths
Exit; sale
Our client was looking to purchase a site in a limited company name to Demolish the existing house and develop a three storey detached double fronted block of 9 flats (5 x 1 bed and 4 x 2 bed)
Purchase Price; £1,000,000
Development loan; £1,027,000
Total facility including interest £1,779,750
Gross loan day 1 £640,872
Term; 18mth term
GDV; £2,825,000
LTGDV 63%
Exit; sale
Client looking to purchase 4 x vacant commercial units (light industrial) in a limited company. The units had full planning to convert to 4 x 1 bed resi properties in a commercial/resi location.
Security; 4 x vacant commercial units
Purchase price £450k,
Gross loan £296,310
Net loan £290,500 (64.56% LTV)
Term; 9mth term with full interest roll up
Exit; Switch to term finance
Total cost of works; £108k (funded from clients own funds)
GDV of £880k.
We have now arranged a BTL term loan on one application for all 4 BTL units at a borrowing of 75% LTV against a value of £945k
LLH Flat Purchase – light refurb and lease extension
Our client was looking to purchase a LLH flat (66yrs) to spend £40k on works to the property including re-wire, plumbing, new bathroom, kitchen and en-suite to master bedroom (no planning needed and no structural works) and to also extend the lease throughout the bridge to 125yrs
Security; 2 bed long leasehold flat
Purchase Price; £450k
Loan; £306,172 (68% LTV)
Term; 12mth bridge
Cost of works; £40k (funded from client’s own funds)
GDV; £750k
All works were completed, and we are now arranging finance to switch to a term loan with the same lender on a loan amount if £507k against £780k value on a 5yr interest only term.
Our client had 4 weeks to arrange the purchase of a BTL property that required refurbishment works of circa £23k prior to letting
Security; 4 bed detached house
Value; £420,000
Loan; £308,700 (73.50% LTV)
Term; 3mths
Interest rolled
No exit fee
Our client had owned the security since 2008 and was looking to re-mortgage to clear the existing first charge;
Security; Mixed commercial and residential property comprising a retail shop and residential upper parts (A1 retail & C3 residential)
Value; £360,000
Loan; £152,250 (42% LTV)
Term; 10yr term
Repayment; Interest only
Security; Our clients developed a site of 37 light industrial units – they chose to retain 16 of the units and switch from development finance to commercial term finance. Some units were still vacant on completion.
Security; 16 x light industrial units
Value; £3,688,000
Loan; £2,361,450 (64% LTV)
Term; 5yr term
Repayment; Interest only
Security; Our clients developed a site of light industrial units – they sold some off and chose to retain some by switching from development finance to a commercial term loan.
Security; Portfolio re-mortgage of 6 x light industrial units and an office building.
Value; £1,590,000
Loan; £1,158,750
Term; 5yr term
Repayment; Interest only
Our client was looking to purchase a resi 4 bed property to undertake some very light refurb works to convert to a 5 bed licenced HMO. His long-term intention was to apply for planning to develop a block of flats. Mainstream lenders declined due to the commercial location of the security and so a more specialist lender was required;
Security; 4 bed detached property
Purchase Price; £600,000 (vacant possession value)
Loan; £450,000 (75% LTV)
Term; 2yrs
Repayment; Interest only
Our client owned a HMO property already and was looking to purchase 2 x HMO’s in a limited company name to add to his portfolio (2 x separate loan applications);
LOAN 1
Security; 7 bed licenced HMO
Purchase Price; £425,000 (investment value)
Loan; £318,750 (75% LTV)
Term; 30yrs
Repayment; Interest only
LOAN 2
Security; 10 bed licenced HMO
Purchase Price; £545,000 (investment value)
Loan; £408,750 (75% LTV)
Term; 30yrs
Repayment; Interest only
Please feel free to complete our form and one of our friendly team will happily contact you.
VIBE are UK mortgage specialists in property-based finance for all types of commercial and residential property mortgages including protection.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.
VIBE may receive commission from the lender for the arrangement of your mortgage, this amount will be disclosed on receipt of the lenders offer.
VIBE Specialist Finance
H4 Daedalus Park
Daedalus Drive
Lee on the Solent
PO13 9FX
Phone: 01329 277 599
Email: [email protected]
VIBE Financial Services Limited (Company registration number: 10979822) is authorised and regulated by the Finance Conduct Authority (No.798033) VIBE Specialist Finance is a Trading Style of VIBE Financial Services Limited.
VIBE Mortgages Ltd trading as VIBE Mortgages & Protection (Financial Conduct Authority number 966737) is an Appointed Representative of Complete FS Limited which is Authorised and Regulated by the Financial Conduct Authority number 738129