Small five unit MUFB was declined by lender as one unit was undersized. Our out-of-the-box thinking found a quick solution
Property type: Multi-Unit freehold block
Location: Edgware, London
Product: Small MUFB 2 Year Fixed
A broker reached out as he was experiencing challenges with a five-unit Multi-Unit Freehold Block (MUFB) in Edgware. A lender had declined the MUFB as one unit was under 25m2. He hoped we could quickly find a solution, as the client needed the case to complete as soon as possible.
Like the previous lender, units under 25m2 are also outside of our lending policy. However, after discussing the case with our underwriting team, a solution was found where we could exclude the unit from the valuation. All parties were happy and agreed to move forward.
Our out-of-the-box thinking meant we could make an offer and complete the case quickly. Both the client and the broker were thrilled with our service and how we went the extra mile.