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Our Case Studies » Secure almost £1million for a unique country property

Secure almost £1million for a unique country property

Can I get a million plus remortgage?

At largemortgageloans.com we help people overcome a variety of challenges to secure their ideal property. Often this relates to the client’s individual situation, but in many cases the property itself also proves a challenge to finance. If you have a unique property you’d like to talk to us about, speak to one of our expert advisers on 020 7519 4984 or email us.

Case profile

We were approached by clients who were at their wits end. They came to largemortgageloans.com after another broker was unable to secure them their desired lending terms. The clients were looking to secure 60% LTV against a property over £1.5million. To add to the complexity of this case, the property then fell down at valuation as it is such a unique property.

The property was considered unique because it was a large country home with an annex. However, it also had an adjoining commercial premise to be used for the client’s business.

Income from the client’s limited company would be used for repayment as it demonstrated a steep increase in turnover and profits. But to borrow enough, the most recent year and draft accounts for the financial year just ending needed to be presented to lenders.

Solution

Associate Director Nigel Bedford presented this compelling case, as well as their retained profits, to a specialist underwriter who agreed to proceed on the above basis. They were not put off by the unique nature of the property and agreed a fixed rate for 5 years.

Your home or property may be repossessed if you do not keep up repayments on your mortgage.

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