Remortgage uses AVM to facilitate rapid BTL portfolio expansion

A quick remortgage was required as client needed to raise capital to assist with their BTL portfolio growth.   

Property type: Standard
Location: Southport
Product: Standard AVM 5 Year Fixed 70% LTV 

Challenge

The client was facing a tight deadline to secure additional properties and any delay in the remortgage could jeopardize the expansion of their BTL portfolio. The pressure was on to not only move quickly but to do so without the slightest error. 

Solution

Upon receiving the application, it was promptly underwritten, and standard documentation was efficiently requested in line with our streamlined processes. AVMs meant that we faced no delays waiting for a valuation and the client also saved costs on fees. 

Outcome

The application was offered swiftly, just 4 days post-submission, demonstrating how our AVMs support our commitment to quick turnarounds. The detailed timeline is as follows: the application was submitted on 25/10 at 5:12 pm, assigned to an underwriter the next morning at 8:12 am, and by 30/10 at 2:33 pm, the offer was ready. 

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The client was very happy with the whole process and we completed the remortgage 6 weeks from start to finish.