The applicant owns a multi-unit freehold block (MUFB) with 3 flats and wanted to split the properties into separate leaseholds. This would then allow them to maximise the borrowing on each flat rather than getting a reduced borrowing on the MUFB as a single freehold unit.
The broker was struggling to find a specialist lender who would finance for this specific company structure which also allowed him to save on SDLT after having sought advice from his accountant from the outset.
By working closely with one of our Business Development Managers we were able to find the right solution for the applicant via our large loan range and ensure a smooth customer journey from start to finish.
✔ Wholly owned subsidiary SPV's accepted
✔ Same pricing offered to individuals, SPV and trading Ltd Co's
Property value: £400,000
Loan amount: £260,000
Rate: 3.44% 5 year fixed
Range: Standard Buy to Let