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Portfolio landlords remortgage 6-bed HMO within 6 months of ownership

Portfolio landlords remortgage 6-bed HMO within 6 months of ownership

Summary: The borrowers are full-time, Portfolio Landlords who own seven buy to let properties in an SPV Ltd company.

Less than six months ago they had purchased a house at auction with a bridging loan which they had subsequently converted into a 6-bed, licensed HMO.

They now wanted to refinance onto a buy to let mortgage.

The broker chose Keystone because we accept:


 Portfolio landlords

✔ SPV Ltd Co’s

 Remortgages within 6 months

 HMOs up to 8-beds

Income solely from rent

Broker proc fee: £1,015 (0.7% of loan amount)

 


Terms offered
:

Property value:  £220,000

Loan amount:  £145,000

LTV:  66%

Rate:  4.09% 5 year fixed

Term: 25 years, interest only

RTI calculation: 125% @ 4.09%

Lender arrangement fee: 2% of loan amount (£2,900)

 


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