Landbay rescues broker’s remortgage letdown

Confidence in Landbay pays off for broker in tight portfolio remortgage turnaround

Property type: Portfolio remortgage
Location: Warrington
Product: Standard 5 Year Fixed

The challenge

Our broker needed to refinance a portfolio of BTL’s to clear their client’s commercial loan which was about to come to the end of term. They had applied to another bank but was let down after several weeks following valuation.

The client – who was an experienced, large portfolio landlord, needed speed and confidence that we were able to lend on this development. Due to this development being a unique property and within a mixed-use area, the client had previously experienced difficulty in meeting lending criteria thresholds.

Our solution

The applications were first discussed at length with the broker. The development was then referred to both our credit team and a valuer before application to ensure we were comfortable. We provided the broker advice on how to submit and package, and we acted as a concierge throughout. This was to ensure the information was shared accurately and quickly, in order to meet the tight deadline set.

Outcome

The portfolio refinance was packaged perfectly, the valuations were instructed ‘day 1’ and completion on all six units occurred well within the very tight deadline.

Alex was very knowledgeable about the market and provides confidence in the service from Landbay