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)
Property value: £220,000
Loan amount: £145,000
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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