Find out how we helped a portfolio landlord looking for a £1m remortgage on a £4m property

Portfolio landlord looking for remortgage case study

Portfolio landlords often seek help from our team to mortgage and remortgage their properties, as we have extensive experience in this complex and specialist field. In our latest case, find out how Associate Director Caroline Burke helped our client, who owned a multi-million pound property portfolio, to remortgage one of their £4m pound properties.

Case profile

Our client owns a portfolio of 35 properties worth approximately £55m, with a total of circa £21.45m borrowing. One of their existing mortgages was coming to an end, with the prospect that the client would end up on the lender’s standard variable rate (SVR); something we always want to avoid as it generally means paying a significant premium.

The client was looking to slightly increase their mortgage of just over £1m on a £4m, six-bedroomed property. There was additional complexity in the case as the client had a second portion of the mortgage secured against the same property with the same lender, which had an extended tie in until 2022. The client approached us with the remortgage and request for additional borrowing with a tight time frame, which always adds to the challenge for our team.

Solution

Using her strong relationship with the client’s existing lender, Caroline was able to arrange a product transfer as well as a further advance on a three-year discounted product. This meant the client not only benefitted from the best possible rate, they also avoided paying an early repayment charge on the other existing portion of their mortgage.

If you are a portfolio landlord looking mortgage, remortgage or restructure elements of your lending, talk to a team who understands your needs. Contact us for a discreet, no obligation conversation to find out how we can help.

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

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