The sole director of a trading limited company approached his broker looking to raise capital against two unencumbered flats owned by the business.
Both flats are located within the same high-rise block above an office in central London. He intended to use the capital so that the company could purchase more buy to let property.
✔ Same pricing offered to individuals, SPVs and trading Ltd Co’s
✔ No debenture, fixed or floating charge taken against trading Ltd Co’s
✔ Flats above commercial accepted
✔ High-rise flats accepted
✔ Broker proc fee: £1,750 (0.7% of loan amount)
Property value: £350,000
Loan amount: £250,000
LTV: 71% LTV
Rate: 3.89% 5-year fixed rate
Lender arrangement fee: 2% of the loan amount (£5,000)
RTI: 125% @ 3.89%
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