Landbay showcases the advantage of its diverse funding line, in intricate portfolio remortgage challenge
Property type: Portfolio remortgage
Product: Standard 5 Year Fixed
The client had purchased a portfolio of seven new-build properties on the same development, in cash. They sought 75% LTV against each asset to enable continued portfolio growth.
They ideally wanted lending through one provider, for simplicity. The client had very little landlord experience, they had acquired a high-value portfolio in a short time frame (within the preceding 6 months) and needed to borrow a large amount.
As the purchases posed potential risks, we discussed the applicant’s profile at great length with the broker. Our diligence ensured concerns were mitigated, which allowed us to proceed. We assisted the broker in packaging and submitting the applications, to provide the best outcome for their client.
Our focus and attention-to-detail pre-application meant offers on all seven properties were issued within 24 calendar days, including new valuations. Our diverse funding line meant we could spread the exposure across multiple funders allowing the client to deal exclusively with Landbay. This meant we met a vital requirement presented by the broker.