Our experienced underwriting team were able to make a quick offer on a newly converted property using a complex layered company structure
Property type: Multi-Unit Freehold Block
Product: Standard 5 Year Fixed
The original purchase for a multi-unit freehold block was made from a trading company. Once the property had been converted into individual flats, it needed to be moved into an SPV. The complicated nature of the company structure meant careful attention to detail was needed to determine who was acting from a personal guarantee perspective.
We carefully broke down the layered companies and established who needed to be on the application for personal guarantee purposes. We worked closely with the broker to ensure we had all the necessary documents and that we had correctly understood the company structure.
Our attention to detail and proactive handling of this case meant we were quick to offer, even though it was a complex one. Subsequently, both the broker and landlord have submitted more business and continue to work with Landbay.