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When our client wanted to expand their portfolio, we worked with them to release equity from an HMO property. All for just £4pcm!

The Client 

An experienced pair of portfolio landlords who owned their large portfolio of buy to let properties through an SPV Ltd company.

The Property

A 4-bed mid-terrace house, situated in walking distance of a Welsh University. The HMO was a well-established student let in a popular part of the town.

The Finance

The experienced duo were keen to take advantage of the HMO's remortgage and release extra capital. The extra capital raised would be used to fund further property purchases and expand their portfolio. The clients wanted to extend their existing mortgage of £60,000 to £82,500 (75% LTV), to allow them to fulfil their ambition.

The Challenge

The challenge was reasonably straightforward in this case: to find a lender who would allow the clients to remortgage and release extra capital for investment with as little increase to their monthly outgoings as possible.

The Solution

In order to find the best deal for the clients, we thoroughly researched all the lenders who would lend to 75% LTV and allow for the extra capital raised to be put towards further property investment. 
With the monthly payments on their existing mortgage costing £188 per month, we then had to find a deal that minimised any extra monthly costs. Through thorough research and an understanding of lender products, we were able to find a product for just £4 per month extra!

The clients were absolutely delighted that they could continue their property journey by releasing £20k of equity for just £4 per month!

Property Details 

Property value: £110,000

Loan amount: £82,500

LTV: 75%

Rate: 2.79% two-year fixed

Term: 25 years, interest-only

Mortgage payment: £192 per calendar month

Lender arrangement fee: 0.5% of loan

Rental income:  £1,407 per calendar month

Application:  Limited Company

Have a similar case? 

If you have a similar case you would like to discuss, get in touch, and one of our expert mortgage brokers will be happy to advise. 

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