Large Loan Case Study
Yiannis Constantinou, Specialist Mortgage Consultant recently secured a £1,680,000 refinance facility for a client against a 5-unit Multi-Unit Freehold Block (MUFB) operating as a Buy-to-Let. The client required the funding to repay a substantial £1.68 million overdraft facility that had been secured against the property. The refinance was structured at 40% loan-to-value with a competitive rate of 5.04%.
The transaction was completed through a limited company involving a four-way application, adding an extra layer of complexity to the process. The property itself was in very close proximity to commercial premises, which required additional due diligence from the lender. In addition, the client group had relatively low declared incomes, further challenging the underwriting process. Despite these obstacles, Yiannis successfully guided the application from submission to completion in just 10 weeks, delivering a stable long-term funding solution and relieving the client of their costly overdraft exposure.
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