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 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
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
Our clients had purchased the security 6mths prior for £195,000 and had spent £114,151 on refurbishing the property to a 6 bed licenced HMO with an end value of £410,000 (investment value) A private investor had a first charge over the security which the clients were looking to repay and capital raise for further property investment.
Security; 6 bed licenced HMO
Value; £410,000 (investment value)
Loan; £307,500 (75% LTV)
Term; 10yrs
Repayment; Interest only with 15% capital repayment
Our clients had purchased the security 6mths prior for £195,000 and had spent £114,151 on refurbishing the property to a 6 bed licenced HMO with an end value of £410,000 (investment value) A private investor had a first charge over the security which the clients were looking to repay and capital raise for further property investment.
Security; 6 bed licenced HMO
Value; £410,000 (investment value)
Loan; £307,500 (75% LTV)
Term; 10yrs
Repayment; Interest only with 15% capital repayment
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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.
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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