A pro-active approach secures a valuable completion for first-time SPV client
Property type: Small MUFB
Product: 5 Year Fixed
A group of four experienced landlords were purchasing their first MUFB together using an SPV. Initially, all four were listed as directors. However, post-offer, they amended their structure to a single director, so we re-offered based on their decision.
Due to a change in strategy, they wished to revert to the original four directors. Re-structuring of the SPV resulted in several post-offer changes and multiple re-submissions, spanning beyond the six month valuation period.
We had a symbiotic approach with the broker, meaning changes between submissions were managed accurately and smoothly. Once the final shareholder structure was agreed, the second valuation was instructed, and a new offer made quickly.
Despite multiple post offer application changes and an expired valuation, our pro-active response meant we could instruct a second survey quickly. Based on the second report we were able to offer a larger amount when it yielded a higher valuation.
Our continued flexibility following the survey meant the case was completed without delay.
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