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21-year-old landlord remortgages to raise capital from buy to let flat

21-year-old landlord remortgages to raise capital from buy to let flat

Summary: 

A 21-year-old landlord approached her broker looking to raise capital against her rental property – a three-bed flat. She works full time in a bank and is a basic rate tax payer. As such she was looking to borrow personally.


The client owned the flat outright and wanted to raise finance to use as a deposit on another rental property. The property had originally been given to her as a gift by her mother as part of her inheritance and tax planning strategy.

Why Keystone:


 Minimum age at application is 21

 The flat had been recently converted from 2 to 3 bedrooms


Manual underwriting


✔ 
Broker proc fee: £1,680 (0.7% of loan amount)

 

Terms offered:

Property value: £350,000


Loan amount
: £240,000

LTV: 71%


Rate
: 3.99% 5 year fixed


Lender arrangement fee
: 2% (£4,800)


RTI
: 145% @ 3.99%



Similar case to place? Call us today on 
0345 148 9086 or send us an email.

 


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